Practice Areas
You may be at risk in your business or occupation of being sued. This is a common risk in many areas including the professions, contractors, builders, trade based businesses, product suppliers and event organisers. Further, businesses that rely on the solvency of their customers for payment are themselves at risk of creditor claims if the customer faces bankruptcy.
Our approach to all matters involving disputes between our client and another party is to attempt to resolve the matter preferably without resorting to litigation. If litigation develops, we attempt to resolve the matter as early as possible in the litigation process. Before litigation has commenced, we usually try to resolve the matter by negotiating with the other party or with the lawyers if they are represented.
The term insolvency is used in connection with a company. A company is said to be insolvent when it is unable to pay its debts as and when they fall due. The law relating to company insolvency is set out in the Corporations Act.
The term bankruptcy is used in connection with an individual. An individual is declared bankrupt when they are unable to pay their debts as and when they fall due.
It is common for people who go into business together, either as partners in an enterprise or shareholders, to have a falling out.
If the relevant governing agreement is properly drawn, that should give the parties some comfort as to the position in the event of a dispute and provide an equitable resolution. However, the agreement between the parties may be inadequate or even if it is inadequate, it may not prevent the occurrence of the dispute. We have many years’ experience in dealing with such disputes and we apply our dispute resolution philosophy in such matters.
We have a long history of acting in matters of both farming and business succession planning. Succession planning covers a wide area, not only because of the numbers of areas of law it traverses, but also because of the interdisciplinary nature of the problems that can arise.
Succession planning necessitates the involvement of a lawyer with a high level commercial agreement drafting skills, and also knowledge in wide areas of law including capital gains tax law, income tax law, duty law and often trust and/or corporations law.
A successful succession plan should also involve the client’s accountant and financial (and/or agricultural) advisor.
Alex Granich gained a Masters degree in taxation law from the University of Western Australia in 1999. Whilst Alex has a very high level of tax law knowledge, he does not practice as a tax law specialist but rather as a commercial lawyer with strong taxation credentials as well as a high level awareness of potential tax issues.
However, if specialised tax law advice is required we can offer clients the benefit of our close association with specialists (both barristers and solicitors) in Western Australia and in Melbourne. We are in a position to narrow a client’s tax problem so that the more costly specialist advice be applied only to the point of contention.
Trust law can be complex. A famous English law academic from the days of yore, Professor Maitland, described trusts as the most ingenious invention of Englishmen in the field of Jurisprudence (i.e. the science of the law).
Alex Granich is a member of the Society of Trust and Estate Practitioners (STEP).
A Will is a legal document in which a person chooses who controls their estate (by choosing an executor) and sets out how and to whom their assets are to be distributed after death.
Making an appropriate Will is important if you wish to determine who will receive your assets when you die. Generally, your Will should be reviewed whenever there is a change in circumstances.