Daily Archives: July 3, 2021

Should directors manage ESG (environment, social and governance) – ‘too right’, argues Gerry Bean in the Law Institute Journal

Dr Gerry Bean has published an article in the Law Institute Journal assessing directors’ duty to management of environmental, social and governance (ESG) risk. He looks at the open ended duties of directors, at law, and the welter of spectacular reputational collapses, of recent, to argue that is is vital that they do manage ESG risk.…

Mussalli v Commissioner of Taxation – Prepaid rent for McDonalds stores not deductible – it was really for to acquire the right to operate the restaurants

The Full Federal Court found that payments made by a franchisee in connection with the acquisition of McDonald’s restaurants and described as prepayment of rent were not deductible in Mussalli v Commissioner of Taxation. The Full Federal Court agreed with the decision of the primary judge that the payments were not deductible because they were on…

‘Business interruption insurance’ applies to Covid-19 interruptions – at least one common exclusion doesn’t apply (High Court refuses Insurer’s application for leave to appeal)

The issue of whether policy holders can claim on ‘business interruption insurance’ on COVID related interruptions, was determined against insurers, in the NSW Court of Appeal, and on Friday, 25 June 2021, the High Court rejected the insurers leave to appeal. On 28 June, 2021, the law firm: Maurice Blackburn (well known for acting for…