Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

Like in other times of economic turmoil, bargain businesses are now increasingly on the market. However, just like buying an old car, sometimes the alluringly low upfront price of a business obscures the painful reality of extraordinary costs you’ll have to bear down the track. As commercial lawyers, we are often asked to assist to [...]

2020-09-13T22:37:52+00:00September 13th, 2020|Business Advice, Contracts, Corporate Advisory, Property|Comments Off on Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

Discount the rent, you can afford it!

The Queensland Civil and Administrative Tribunal (QCAT) has been in the news this week after it was reported that a landlord on the Sunshine Coast would be forced to discount rent for its long-term tenants after the QCAT ruled the landlord could not demonstrate that reducing the rent would put the landlord at a financial [...]

2020-05-28T01:23:37+00:00May 28th, 2020|Business Advice, Corporate Advisory, Dispute Resolution, Property|Comments Off on Discount the rent, you can afford it!

Small Business Commissioner tenancy dispute resolution: Not just for tenants!

It would appear, at least anecdotally, there is a prevailing view that the expedited mediation service offered by the Victorian Small Business Commission (SBC) during the COVID-19 crisis is aimed at providing assistance to tenants only. This is however not the case and both tenants and landlords alike can make an application for referral of [...]

2020-05-20T23:12:37+00:00May 20th, 2020|Business Advice, Corporate Advisory, Dispute Resolution, Property|Comments Off on Small Business Commissioner tenancy dispute resolution: Not just for tenants!

I’ll take your business but not your problems! – The importance of understanding lease reinstatement obligations when purchasing a business

Buying an existing business can be an exciting but stressful process. Along with assuming the rights to exploit and grow an existing enterprise, the purchaser also assumes numerous obligations and liabilities. Apart from taking on the responsibility for employees, maintenance of assets and responsibility for ongoing management, part and parcel of the obligations assumed will [...]

2020-05-12T04:26:18+00:00April 29th, 2019|Business Advice, Contracts, Corporate Advisory|Comments Off on I’ll take your business but not your problems! – The importance of understanding lease reinstatement obligations when purchasing a business