*Please note that the links to the content in this Part will direct you to Westlaw AU. If you are still using Legal Online, the links can be found in the LOLA PDF at the bottom of this post. If you are using Checkpoint, the links can be found in the CP PDF at the bottom of this post.
The latest issue of the Insolvency Law Journal (Volume 21 Part 3) contains the following material:
There is a growing literature on the arbitration of commercial disputes involving intellectual property rights. Another topic of increasing interest is the intersection of arbitration and external administration. A dispute between Larkden Pty Ltd and its licensee Lloyd Energy Systems Pty Ltd over the ownership of various patent applications relating to renewable energy technology, involved all three areas of law. The two parties were forced to navigate three very different and sometimes conflicting legal frameworks. This article examines the Larkden dispute to see how legal principles developed in each of the areas of arbitration, patent and external administration accommodate the sometimes competing principles of the other areas of law.
Protecting client collateral in the Australian OTC derivatives market: An examination of the relationship between central clearing, account structures and the client money provisions – Adamantia Velonis
The Corporations Legislation Amendment (Derivative Transactions) Act 2012 (Cth) was passed at the end of 2012 to implement major reforms to the Australian OTC derivatives market. This was a response to the default or near-default of a range of broker/dealers in the last five years, which alerted regulators to the high level of counterparty risk in the OTC derivatives market. Although losses to client collateral in a default situation cannot be entirely eliminated, certain structural features can affect the extent of the losses. This article will investigate the various account structures that the ASX could adopt in order to ensure that client margin is adequately protected and suggests additional measures to minimise the inherent operational, insolvency and investment risks. In addition, the article argues for an amendment of the existing Australian client money provisions (specifically, s 981D of the Corporations Act 2001 (Cth)) in order to better protect market participants and bring the Australian market in line with the reforms in other major jurisdictions.
RECENT DEVELOPMENTS – David Morrison
- SAAD Investments asks more questions than it answers – Stewart Maiden
- Re Employ (No 96) Pty Ltd (in liq) (2013) 93 ACSR 48;  NSWSC 61 – Matthew Broderick
- International Cat Manufacturing Pty Ltd (in liq) v Rodrick  QSC 91 – Matthew Broderick
- In the Matter of Octaviar Administration Pty Ltd (in liq)  NSWSC 786 – Matthew Broderick
REPORT FROM NEW ZEALAND – Lynne Taylor
- Court of Appeal clarifies new value required for defence against insolvent transaction claims – Farrell and Rogan as Liquidators of Contract Engineering (in rec and liq) v Fences & Kerbs – Trish Keeper