Oppression and unit trusts – Wain v Drapac

The Supreme Court of Victoria has recently affirmed that the Corporations Act oppression provisions can be used when a company in which the oppression has occurred is a trustee company.  This has significant consequences for business relationships conducted through a unit trust structure that have turned sour.  Until the decision of Davies J in Vigliaroni […]

The law of penalties – Andrews v ANZ Bank

The High Court has held that relief against penalties is not limited to consequences imposed after a breach of contract. The equitable remedy of relief against penalties has a murky past.  As the High Court has recently observed, a proper understanding of the doctrine requires ‘more than a brief backward glance’. One controversial element of […]