Press Council awards 2017 Press Freedom Medals

By Peter Timmins Media Release APC 19 May 2017.”The Australian Press Council has awarded its Press Freedom Medal to two outstanding individuals for their major contributions to ensuring a free and open society:Peter Timmins – Australian Open Government Partnership Networkand Michael Cameron – News Corp Australia.The 2017 Press Freedom Medals were awarded at a special ceremony in Sydney on 19 May. As well as members of the Press Council, journalists and guests from a variety of organisations attended.Peter Timmins is a well-known advocate of improved standards of transparency and accountability and Australia’s leading expert on Freedom of Information (FOI) policy and privacy, …read more

Source:: Open and Shut

Abuse, no limitation period & application for stay of proceedings

By wjmadden Although the alleged abuse did not arise in the context of medical treatment, Connellan v Murphy [2017] VSCA 116 is of interest as an appellate consideration of the effect of recent amendments by which there is no limitation period for sexual assault / abuse claims. The allegations related to a time when the defendant was aged 13 years, some 50 years earlier.
Against the background of the Victorian provisions (section 27 O – 27 R, Limitation of Actions Act 1958(Vic)) the Court of Appeal was called upon by the defendant / appellant to revisit the lower court’s refusal of a permanent …read more

Source:: Bill Madden

Resistance to inspection of subpoenaed documents & Costs

By wjmadden Boorman and Ors v Glaxo Wellcome Australia Pty Ltd [2017] NSWSC 576 is an interlocutory decision in the context of a claim against a pharmaceuticals manufacturing company as described at [6]:
On various dates in the 1970s and 1980s each plaintiff underwent a radiographic procedure known as a myelogram to obtain images of the spine and parts of the nervous system. Each plaintiff alleges that for the purposes of this procedure he or she was given an injection into the spinal column of an oil based contrast medium manufactured by the defendant under the name Myodil. It is alleged that this …read more

Source:: Bill Madden

New Financial Firm External Dispute Resolution Framework

By David Jacobson Treasury has released a draft Treasury Laws Amendment (External Dispute Resolution) Bill 2017 and Treasury Laws Amendment (External Dispute Resolution) Regulations 2017 for consultation.
Background
The Australian Financial Complaints Authority (AFCA) will be based on an ombudsman model and will replace the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal (SCT).
It will be established as a company limited by guarantee and is expected to commence operations from 1 July 2018.
The financial firms that will be required to participate in the new EDR framework are Australian Financial Services licensees, unlicensed product issuers, unlicensed secondary sellers, credit …read more

Source:: Bright Law

Regulatory timeline 2017-2018

By David Jacobson The recent announcement by the Treasurer has laid out a new roadmap for regulatory changes in the financial sector.
This graphic is a summary of the current issues (click to enlarge).

Download Bright Law Regulatory Update May 17 (PDF)
The Government has increased funding for ASIC, APRA and the ACCC to implement and enforce its program.
ASIC will continue to review breach reporting, credit and financial advice.
The ACCC’s 2017 priorities will be misleading and deceptive practices, anti-competitive conduct and unfair contract terms affecting small businesses and competition in the financial system.
APRA will be responsible for the Bank Executive Accountability Regime and open banking.
The post …read more

Source:: Bright Law

Crowd-sourced Funding to be extended to proprietary companies

By David Jacobson Treasury has released for public consultation a draft Corporations Amendment (Crowd-sourced Funding for Proprietary Companies) Bill 2017 which will extend Crowd-sourced Equity Funding (CSEF) to proprietary companies. Background.
The amendments will mean that:
Proprietary companies that meet the eligibility requirements (including a minimum of two directors) will be able to access the CSF regime;
Proprietary companies that have CSF shareholders will have to prepare annual financial and directors’ reports in accordance with accounting standards;
Proprietary companies that raise more than $1 million from CSF offers will have to have their financial statements audited;
Proprietary companies that have CSF shareholders will be subject to the related …read more

Source:: Bright Law

Funds management fees: Potential recovery

By wjmadden Jones v Warwick Total Security Service Pty Limited [2017] QDC 114 was a trial on the issue of the quantum of management fees of damages payable to the plaintiff, in the context of conflicting medical evidence on the prospect of the claimant’s recovery from a head injury with functional overlay. The court found at [53] that the evidence showed that the claimant would need financial management for at least 10 years but had a further life expectancy of 61 years.
Applying the principles in Malec v J C Hutton, the court discounted the life expectancy funds management sum by 33%.
…read more

Source:: Bill Madden

Interrogatories in medical claim

By wjmadden El-Mouelhy v Reid [2017] NSWSC 623 required the court to determine a claimant’s application for leave to administer interrogatories in the context of a medical negligence claim.
Various interrogatories were permitted, including some going to the defendant’s training, surgical experience and conduct. Questions regarding the defendant’s registration and disciplinary findings were not allowed given that a subpoena could have been issued for relevant records.

…read more

Source:: Bill Madden