While we’ve all been pre-occupied managing the challenges of Covid-19, the Queensland Government (strengthened on the back off a recent election win) has forged ahead with significant changes to the often complex and strictly enforced Qld building and construction regulatory regime.

Watch on-demand Cameron Crichton, Partner, Grant Thornton and Robert Champney, Director, Redchip Lawyers as they explore the impact of these changes to the Building Industry Fairness Act (BIFA) including:

  • Changes to the Project Bank Account regime (now Project Trust Accounts) 
  • Payment Times Reporting
  • Minimum Financial Requirements (MFR) and its interaction with the recently introduced Small Business Restructuring Procedure
  • Potential impacts of the removal of the Schedule 1A exemption
  • New powers to affect security for payment (risks to financiers and developers posed by withholding requests) and alternative collection strategies

The session was facilitated by Sian Sinclair, Grant Thornton’s Head of Real Estate & Construction.

 

Featured speakers
Cameron Crichton - Partner, Financial Advisory, Grant Thornton
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Cameron Crichton

Partner - Financial Advisory, Grant Thornton Australia

Cameron has in excess of 19 years experience within the Financial Advisory division both in Australia and the United Kingdom. Throughout his time Cameron has developed a thorough understanding of business operations and practical knowledge of commercial law.

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Robert Champney, Director – Redchip Lawyers
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Robert Champney

Director - Redchip Lawyers

Robert Champney has over 12 years’ experience in commercial litigation, insolvency and construction law, including front end construction contract drafting and back end disputes. Robert take a hands-on approach to his role as Director of Redchip’s Litigation team and adopts a practical, client focused approach to identifying the key issues in dispute and then delivering commercial, pragmatic and practical advice to protect and advance his client’s interests.

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