Commercial Litigation

Monday, May 28, 2018

Word or PhraseDescription
AppealA case that is escalated to a higher court so the decision made in the lower court can be reviewed.
Anton Piller OrderA court order which requires the defendant to permit the plaintiff, or the plaintiff’s legal representatives, to enter the defendant’s premises in order to obtain evidence essential to the plaintiff’s case.
BankruptAn insolvent individual whose finances are managed by an independent trustee.
Breach of ContractFailure by a party to a contract to perform the service or action agreed in the contract. 
Building DisputeAny dispute which arises out of a construction contract or which is related to any type of structure that is built on land; or an agreement about the building of any structure on land.
Civil LitigationAny court proceedings which are not of a criminal nature.
Commercial LitigationAny court proceedings where the subject matter of the dispute stems from a commercial relationship or a business transaction.
ContractA legally enforceable agreement between two or more persons or organisations with obligations and promises that are enforceable.
Corporate DisputeAny dispute that stems from the dealings of an Australian company.
CounterclaimA claim by a defendant against a plaintiff.
DamagesA court-ordered requirement to pay money, generally in compensation for loss suffered as a result of civil wrong or breach of contract.
DebtMoney owed by one person or a business to another.
DebtorA person who owes money.
Debt AgreementAn agreement between a person or business with a creditor regarding the repayment of debts. This arrangement is less formal than bankruptcy.
DefamationFalse and derogatory statements about another person published in the press, electronic media or by word of mouth, without any justification recognised by law.
Directors DisputeAny dispute between company directors that concerns the affairs of a company.
DisputeAny situation where one party desires a different outcome to another party.
Employment DisputeAny dispute related to an employment (or in some cases, subcontractor) relationship.
EstoppelA principle that prevents someone from asserting something contrary to what they have previously said or done, or from going back on their word.
Franchise DisputeA dispute concerning a franchise agreement between a franchisor and franchisee.
Freezing OrderA freezing order is an interim injunction that restrains a party from disposing of or dealing with his assets. The usual purpose of a freezing order is to preserve the defendant’s assets until judgment can be obtained and enforced.
Garnishee NoticeA garnishee notice is issued to a third party who holds money for you, or who owes you money.  It requires that third party to pay ‘your money’ to the judgment creditor to satisfy your debt.
IndemnityA requirement to compensate for costs, expense or loss due to the act or default of another.
InjunctionA court order that orders someone to do, or refrain from doing, a particular thing.
InsolvencyInability of a person (company/individual/partnership) to pay their debts as and when they fall due.
Interim OrderA temporary court order allowing, or prohibiting, certain actions until a full hearing is conducted. 
Intellectual Property DisputeAny dispute that concerns the ownership of design rights, copyright, creative rights or the ownership of property which does not have a physical nature but which is the fruit of somebody’s creativity.
LiquidationThe process by which an insolvent company has its affairs wound up.
Meeting of CreditorsAny meeting called by an external administrator (liquidator, receiver, administrator etc.) or a trustee in bankruptcy, which brings together the creditors of a company or person so that they can ask questions and vote on certain motions.
Part IX Agreement A legally binding agreement between a debtor and creditors. 
Part X AgreementAn agreement between an insolvent person with his or her creditors so that the person can pay off their debts without becoming a bankrupt.
Property DisputeAny dispute which relates to property holding or the reorganisation of real property (e.g., subdivision, development application etc.).
Public ExaminationThe examination of company directors or certain other classes of people in a formal way before a court so that a liquidator, trustee-in-bankruptcy or certain other people can obtain information on oath.
ReceivershipThe appointment of an external party to control the business or assets of the company, and if necessary, sell the assets or business so that a secured creditor gets paid back their debt.
Restructuring The action or process of restructuring a business in distress, in order to preserve its value for employees, creditors and shareholders. 
SolvencyThe ability to pay debts as and when they fall due.
Statutory DemandA letter written by a creditor to a company debtor pursuant to the Corporations Act demanding payment of an undisputed debt within 21 days from the date of service of the letter. Failure to comply with the demand in the letter within the given timeframe has serious consequences for the company debtor.
Subcontractor ChargeA security obtained by a subcontractor pursuant to the Subcontractors Charges Act 1974 over monies owing by the contractor to the subcontractor, which monies remain payable by the head contractor to the contractor.
Tax DebtAny debt or alleged debt which is owing to the Australian Taxation Office or claimed by them.

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