Commercial Trusts

This book provides a comprehensive analysis of Australian commercial trusts, from private trading trusts through to publicly listed managed investment schemes, as sophisticated modern business entities. The use of these trusts is widespread and they hold immense wealth; however, they also present serious legal issues for those who are involved with them. While companies are regulated by a highly evolved statutory regime, commercial trusts are not.

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Book
ISBN/ISSN: 9780409338812
Release Date: May 01, 2014
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AUD$ 147.00
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ISBN/ISSN: 9780409338829
Release Date: May 01, 2014
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AUD$ 154.35
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Product description

Commercial Trusts examines, in an applied way, the Australian commercial trust as a dynamic and modern enterprise entity operating, in effect, as a surrogate company. The focus is on the legal and insolvency risk position of the three main classes of participant, that is, unit holders, corporate trustees and creditors and other ‘outsiders’.

The appendices contain state-of-the-art due diligence checklists, with explanations for every step, and sample protective clauses for inclusion in commercial trust instruments and third party contracts (including financing arrangements), in all cases drawn on best practice models in current use in the Australian market, enhanced to address the issues dealt with in the substantive content. This book is indispensable for any lawyer advising those involved in or dealing with commercial trusts.

Please note the book does not deal with the taxation treatment of commercial trusts.

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Table of contents

Chapter 1   Introduction: Concepts and Principles


Chapter 2    Evolution of the Australian Commercial Trust


Chapter 3    Legal Risks of the Beneficiary as an Equity Investor


Chapter 4    Legal Risks of the Commercial Trustee


Chapter 5    Legal Risks of the Trust Creditor


Chapter 6    The Commercial Trust in Insolvency


Chapter 7    Conclusion: Reforming the Commercial Trust


Appendices


Appendix 1    Extracts from the Corporations Act


Appendix 2    Selected reports into the law affecting commercial trusts


Appendix 3    Protecting equity investors


Appendix 4    Protecting the trustee


Appendix 5    Protecting creditors and other counterparties


Appendix 6    The Blackacre Trust hypothetical