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On 15 June 2021, the Government announced the compensation package for affected claimants could total up to $313 million if every eligible policyholder applied for compensation. A policyholder is eligible if they are a SR claimant who settled their claim before the 1 October 2014. Read more from Jessica Manson.
Trade secrets, customers/clients, suppliers, confidential information and intellectual property are all vital interests that businesses must protect to ensure viability and profitability.
On 10 June the Government released their discussion document “Design of the interest limitation rule and additional bright-line rules”. The discussion document provides details on the proposed interest limitation and bright-line rules, following the 23 March 2021 announcements.