Managing government contracts through financial distress – AGS Commercial Notes, November 2018

This Australian Government Solicitor bulletin offers a comprehensive coverage of the terms of commercial agreements with the Australian government and how government clients and their lawyers should safeguard against the risks of the counter party facing financial distress or collapse. 

Apart from discussing a range of contract terms, including the taking of security, the guidance covers the new limitations on ipso facto termination rights and the safe harbour provisions in the Corporations Act, and preference and other claims to which the government may be subject. 

Much of this is in the context of the accountability obligations under the Commonwealth Resource Management Framework.

See also Termination of Commonwealth contracts .

 

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