LMC Logo

Latest News

7 Steps to Dealing With a Legal Issue or Dispute

If you run a business for any length of time, you will likely get involved with disagreements and disputes with your associates, whether they be customers, employees, suppliers or competitors.

.

Some legal issues or disputes are more serious than others. Nevertheless, all legal issues and disputes need to be dealt with efficiently and quickly in order to prevent them from escalating. This article will delve into seven ways you can deal with a legal issue or dispute. 

1. Have a Plan 

You never know when a legal issue or dispute may arise during the course of your business, so it is always a good idea to be prepared. The key to ensuring that legal issues and disputes are dealt with efficiently is ensuring that you have an effective dispute resolution system set up.

The result of having such a system in place is that it can spring into action when needed, thus saving you from making hasty decisions when an issue arises. This can be as simple as having a dispute resolution clause in your contracts or the terms and conditions of your services. 

2. Review the Contract 

If your legal issue or dispute relates to a particular contract, you should review the contract in question. The important clauses to look for are:

  • the clause that relates to the particular dispute; 
  • a dispute resolution clause, which sets out the procedures should any dispute arise; and
  • the termination clause, which sets out how the parties to a legal agreement can end their contractual relationship.

Usually, these clauses will outline the steps that must be taken to resolve the dispute before escalating any further. Often they will have a mandatory Alternative Dispute Resolution (ADR) clause in an attempt to resolve the dispute in the most efficient, timely and cost-friendly manner, without the need for court proceedings. It is important to note that ADR is not always appropriate for certain disputes. For example, if you need an urgent court order or injunction to stop the other party from taking certain action, ADR may be unsuitable.

3. Speak to a Lawyer

You will likely need to speak with a lawyer if you are involved in a legal issue or dispute. This will apply even if it is minor issue.

A lawyer will give advice on your legal position and can guide you in your approach and discuss your options moving forward. This guidance is best sought at the beginning of the dispute when your strategy can still be mapped and changed easily. Ideally, you want to avoid beginning legal action and then consulting a lawyer, only to learn the lawyer advises a different course.

4. Attempt to Reconcile

It is sensible to attempt to reconcile with the other party to your legal issue or dispute if at all possible. Taking a legal issue or dispute into the legal arena is usually very time-consuming and can be expensive. You should carefully consider, along with your legal adviser, whether the severity of the dispute warrants legal action. The first step to resolving the dispute is to communicate with the other side. Put your concerns in writing or arrange a call or meeting to explore possible solutions. 

5. Arbitration 

Arbitration is a form of alternative dispute resolution. In many ways, it is similar to court proceedings but much more flexible and sometimes less costly. Some contracts will include requirements for arbitration in a dispute resolution clause. Generally, the parties to the issue can choose an arbitrator and agree on the procedures and processes to be followed. This ensures you can resolve the dispute in a manner suitable to the party’s needs and the industry standards involved. You can, however, agree to binding arbitration when a dispute arises. Whether arbitration is a good option will depend on the circumstances of your legal issue or dispute. This is why you should work with a lawyer who can advise you on these matters.

6. Mediation

Mediation is a less formal type of ADR that involves parties meeting with an experienced mediator to attempt to resolve the dispute. It has a high success rate and is less structured and, therefore, quicker and cheaper than arbitration or going to court. The mediator does not make a binding determination about the dispute but guides the parties through all options to resolve it. 

7. Litigation

If you cannot resolve your legal issue or dispute through communication, discussion, compromise and possibly ADR, you may need to move to litigation. Obviously, this means getting the courts involved.

Litigation is generally expensive. The court will usually order that the losing party pays the successful party’s costs, but this is only about 60% -80% of the total out-of-pocket costs, depending on the type of cost order made. Litigation is also very time-consuming, with some matters taking several years to resolve in the courts. For all these reasons, we always recommend litigation as a last resort and attempt to resolve matters outside the courts wherever possible.

Key Takeaways

The key to resolving a legal issue dispute as effectively and cheaply as possible is to work with the right legal professional at the right time.

 

 

 

Meryem Aydogan
Law Graduate
legalvision.com.au

May 29, 2024

Latest News

Henry Perlen - Principal

Representing over 40 years of experience, Henry has built his professional relationship upon advising private clients on their financial and taxation affairs. Henry is a trusted advisor to a number of private enterprises and family business owners, providing financial and tax directions at the family and corporate levels. He ensures that tax and financial governance requirements are managed without fuss. Henry is proud to lead a team with a diverse skillset that manages the balance of a smaller firm but with a strong commercial and practical approach to business and taxation matters.

He has worked in insolvency, taxation, audit and general business services over a number of years and his personal passion is in the area of business planning, superannuation planning and estate planning especially in respect of intergenerational wealth transfer.

Kevin Lau - Principal

Kevin is a Chartered Accountant and a Principal at APNL.

With over a decade of experience, he brings broad taxation expertise to the firm in the areas of compliance accounting, business advisory and tax consulting for Small Medium Enterprises (SME’s).

Kevin takes pride in offering a personalised approach to his clients. Recognising the unique challenges each business faces, he provides tailored strategies to navigate the intricate tax landscape, fostering growth and ensuring compliance.

His clients have benefited from his broad taxation expertise and commercial acumen including those in manufacturing, hospitality, advertising, property, healthcare, professional services and a range of other industries.

Kevin has a keen interest in the superannuation industry, assisting clients with their retirement and estate planning needs.

In his spare time Kevin enjoys playing soccer, snowboarding, travelling and spending time with family and friends.

Advisory

At APNL, we take pride in our extensive advisory capabilities designed to cater to businesses of all types and sizes. Our expertise encompasses a diverse range of services, including assisting with business structure selection, offering restructuring guidance, and providing valuable risk advice. Whether you are embarking on a new venture, seeking to acquire, enhance, expand, or divest your business, you can rely on APNL to offer comprehensive and personalized assistance. Our client-centric approach ensures that we delve into the intricacies of each situation, offering tailored solutions to meet your unique needs.

Contact us today to discuss how we can work together: 03 9654 2022 or email us at info@apnl.com.au

Business & Corporate Structuring

Our Business & Corporate Structuring service is designed to cater specifically to your needs, whether you're launching a new venture, expanding operations, or planning for succession. Our expert advisors are committed to tailoring the perfect solution for you and your business.

With a focus on fostering a mentoring relationship, our firm provides unwavering support to help business owners make informed decisions. By working closely with our experienced Advisors, we gain valuable insights into your business and objectives, allowing us to address challenges as they arise and strategize for improved operations and financial outcomes.

Our approach revolves around the following key principles:

  1. Defining Clear Personal and Business Goals: We work collaboratively to establish well-defined goals for both you and your business, ensuring alignment and clarity.
  2. Planning and Implementation: Together, we chart a path to achieve these objectives, meticulously planning and implementing actions to drive success.
  3. Mentorship and Ongoing Support: Our dedicated team establishes a nurturing mentoring relationship with you, providing continuous support through regular contact and guidance.

At APNL, we work with businesses at various stages of the business life cycle, including start-ups and established enterprises, whether large or small. Our comprehensive range of services includes:

  • Management Reporting & Analysis
  • Budgeting and Forecasting
  • Financial Analysis – Cost/Margins
  • Asset Structures
  • Bookkeeping Support
  • Business Appraisals
  • Due Diligence
  • Business Plan
  • Succession Planning/Business Sale
  • Business Grants
  • Business Coaching
  • Software Solutions

Get in touch with us today and take the first step towards optimizing your business's potential.

Contact us today to discuss how we can work together: 03 9654 2022 or email us at info@apnl.com.au

Taxation

Most enterprises encounter shared challenges irrespective of their industry. We take pride in offering clients sound counsel and expert guidance to effectively manage cash flow and foster optimal business growth.

Our proficient team is well-equipped to assist you with a range of intricate tax matters, encompassing tax consolidation, business succession planning, and remuneration options, ensuring strict adherence to all compliance, legislative, and taxation requirements.

Our comprehensive array of services includes:

  1. Financial Statement Preparation
  2. Australian Taxation Office (ATO) Lodgment for individuals, partnerships, joint ventures, companies trust, and superannuation funds.
  3. Australian Securities & Investments Commission (ASIC) requirements
  4. Tax planning and problem solving
  5. Bank covenant reporting
  6. Three-way financial projections

Contact us today to discuss how we can work together: 03 9654 2022 or email us at info@apnl.com.au

Self-Managed Superannuation Funds

We have the expertise to assist you in determining whether an SMSF is suitable for your needs. Our comprehensive support spans from establishing your SMSF to handling its ongoing administration to ensure compliance.

Rest assured, we will keep you and your trustees informed about the ever-changing superannuation landscape, including rules and regulations.

Our services are proudly delivered locally and in-house, providing you with peace of mind regarding the privacy of your information and the quality of our service.

Our offered services include:

  • Administration and Compliance, encompassing:
  • Tax Returns
  • Preparation of Financial Statements
  • Facilitating Annual Independent Audits
  • Fund establishment and Trust Deed Updates
  • Pension Establishment
  • Tax and Strategic Advice

Contact us today to discuss how we can work together: 03 9654 2022 or email us at info@apnl.com.au

Tax Diary

General Calculators

 

Accounting Videos

Secure File Transfer

Secure File Transfer is a facility that allows the safe and secure exchange of confidential files or documents between you and us.

Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.

Login to Secure File Transfer, or contact us if you require a username and password.

Privacy Notice

APNL Pty Ltd Chartered Accountants and Advisors ("APNL") understands that in globalising world, protection of your privacy and information is of the utmost importance. We are dedicated to protecting your personal information especially the collection, use and storage of information. At APNL, we understand the significance you place on information that identifies you ("your personal information"), and we are committed to assisting you in safeguarding it.

The Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs) form the cornerstone of the privacy protection policy that APNL Pty Ltd are statutorily bound and abide by steadfastly. This Privacy Policy outlines how we manage the information we collect about you when you provide personal information to us in person, by mail or email, or when you visit our website.

Collection of Personal Information

We will only collect personal information that you voluntarily provide to us or have given us prior consent. The ways we may collect personal information from you include, but are not limited to:

Please note that in some cases, providing certain personal information may be necessary for us to provide you with the requested services or information. If you choose not to provide us with specific personal information, it may hinder our ability to fulfill your requests.

Types of Personal Information We Collect

The personal information we may collect from you includes, but is not limited to:

Use of Your Personal Information

APNL and our associated entities will use the personal information you provide for the purpose of providing the agreed-upon services, such as accounting or business advisory services. Additionally, we may use this information for internal business and management processes, monitoring and improving our website, keeping you informed about our services and company news, and fulfilling our legal obligations.

Prior to providing products or services to you APNL is obliged by law to collect, and verify, certain personal information from you. The statutes governing these requirements include:

Direct Marketing

We may use your personal information for marketing purposes related to our services. If you do not wish to receive marketing material from us, you can unsubscribe by following the instructions provided in the communication or by contacting us directly.

Disclosure of Your Personal Information

Your personal information will only be disclosed to employees or consultants of APNL and its associated entities who are involved in providing the agreed-upon services. Depending on the nature of the engagement, we may need to disclose your personal information to third parties, which may include service and content providers, dealers and agents, or our contractors and advisors.

Security Procedures

APNL takes the security of your personal information seriously and implements reasonable measures to protect it from misuse, interference, loss, unauthorized access, modification, and disclosure. We regularly review our security procedures to ensure their effectiveness.

However, please be aware that transmitting data over the Internet is not entirely secure, and we cannot guarantee the security of information transmitted to us via electronic means such as via e-mail. Such transmissions are done at your own risk.

Data Breach Notification

In the event of an "eligible data breach" as defined by the Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth), we will notify affected individuals, including you, and the Australian Information Commissioner (OAIC) in accordance with the law. If you believe a data breach has occurred or have concerns about your privacy, please contact us as detailed below.

Access and Correction of Personal Information

You have the right to access the personal information we hold about you and to request corrections if you believe the information is inaccurate, incomplete, or outdated. To access or correct your personal information, please contact us at info@apnl.com.au. We will respond to your request within 2 business days.

Changes to Our Privacy Policy

This Privacy Policy represents our current practices and may be updated from time to time for various reasons. Any changes will be published on our website, and your continued use of our services and website signifies your acceptance of the updated Privacy Policy.

Complaints Resolution

APNL is committed to resolving privacy-related concerns fairly and responsibly. If you have any concerns about how we handle your personal information, please contact us using the details provided below. We will address your concerns through our complaints handling process and provide you with an outcome in a reasonable timeframe. If you remain dissatisfied with our response, you may refer your concerns to the Office of the Australian Information Commissioner.

Contact Us

If you have any questions, requests, or concerns related to this Privacy Policy or your personal information, please contact us at:

APNL Pty Ltd Chartered Accountants and Advisors

Postal address: PO Box 630 CARLTON SOUTH VIC 3053

Email: info@apnl.com.au

By using our website and providing us with your personal information, you indicate your understanding of and agree to comply with the terms and conditions set out in this Privacy Policy. If you do not agree with this Privacy Policy, please refrain from using our website or providing us with your personal information. This Privacy Policy was last updated in August 2023.