Commercial Law

+ Buying and Selling a Business

It is likely that buying or selling a business is one of the most exciting times in a person’s life. Unfortunately, the excitement that surrounds the purchase and sale of a new business can sometimes overwhelm you to ‘rush’ the transaction or overlook important information in the interests of reaching settlement.

The purchase and sale of a business is a complex transaction that usually involves many separate smaller transactions. It is important that both yourself and our team understand the type of business that is being purchased/sold and the circumstances that make that business unique as well as identifying exactly which assets are included within the sale of the business when you are going through this process so that we can understand exactly what you are trying to achieve and explain to you the process in a straight forward manner. Our team can assist you throughout the entire process, right from the beginning of preparing the business to be sold, to negotiating the sale of your business to finally arranging and attending the settlement of your sale or purchase.

We are also able to assist you in recommending reputable local Accountants if need be to assist you in completing tasks such due diligence.

We understand that successful commercial property transactions are often dependent on the quality and speed of commercial negotiations, document preparation and execution by the relevant parties. At Millwater Tyrrell Law we will quickly assess and address these issues so that the transaction can be completed in a speedy and efficient manner.

+ Business Structuring

Whether you are looking at starting a new business, or an existing business owner who thinks that they may have outgrown their original business structure the team at Millwater Tyrrell Law are highly experienced and able to assist.

Our team will listen to you to gain an understanding of just how your business operates and what its current structure is so that we can then review your current situation and explain potential options which may assists your business to:

• Access appropriate funding options so as to place you in a position to meet your ongoing financial requirements and grow your business
• Ensure that your business structure is tailored to maximize the most tax efficient outcomes for your business.
• Consider how your business and its assets are accounted for within your estate planning, ensuring the most tax efficient and seamless transition of ownership of your business to your loved ones; and
• Take steps to ensure that both your personal and business assets are appropriately protected considering both external risks as well as internal family law risks.

+ Commercial Litigation

Businesses and individuals must from time to time pursue and defend a wide range of commercial claims ranging from seeking relief due to a breach of contract to injunctive relief.

The team at Millwater Tyrrell Law are experienced in Commercial Litigation however our real strength is our ability to utilize our broad business experience to bring a sensible commercial mindset to any commercial dispute you find yourself facing. This commercial mindset provides us the unique ability to often provide key advice to clients well before a dispute finds itself before the Court.

While we are able to proceed to trial or engage in other forms of alternative dispute resolution in any case, we also look for opportunities for business-driven solutions. We frequently provide advice to clients on how to parlay the primary business litigation triggers of today into a better and more productive tomorrow with advice aimed at preventing commercial disputes. We utilize our courtroom experience to protect our clients’ interests in a manner that is consistent with their existing business objectives. Whether you are seeking advice prior to a commercial dispute being filed in Court, or with representation and assistance once an application has been filed, our team can assist you and would be pleased to discuss your specific situation with you at an initial consult.

+ Corporations Law

The physical task of establishing a successful business is often so demanding and exciting that many people overlook the need to ensure that their ‘back end’ arrangements are in place and effective. The problem with this type of approach is that often people don’t realize their lack of planning until it is too late!

At Millwater Tyrrell Law, in addition to assisting you with the purchase/sale of your business, we are also highly experienced in providing you with straightforward advices regarding the various options available to mitigate or totally prevent any future disputes whilst also considering the individuals best tax and asset protection outcomes through the preparation and use of;

• Shareholders Agreements;
• Unitholders Agreements;
• Partnership Agreements;
• 'Gift and Loan Back’ Arrangements;
• Loan and Security Arrangements;
• License Agreements

Detailed information on any of the above instruments and their potential application to your own circumstances can be discussed with you in addition to any other queries you may have during an initial consult.

+ Buying and Selling of Commercial Property

The process of buying and selling commercial property might feel like the purchase of your family home, however reality couldn’t be further from the truth!

The purchase and sale of commercial property brings unique challenges. Whilst you might feel like you have found the perfect property, it is important to obtain advice from our team to ensure that the property can actually be used for your desired purpose to avoid any nasty surprises after settlement occurs.

Millwater Tyrrell Law are able to explain use their knowledge of the local area in combination with their experience in the purchase and sale of commercial property to ensure that you receive the most straightforward advice tailored to your specific circumstances to ensure that the purchase or sale of any commercial property occurs without avoidable complications.

Should you wish to engage the team at Millwater Tyrrell Law to assist you with either the purchase or sale of your business we would be pleased to discuss your specific situation with you at an initial consult.

+ Commercial Leasing

Have you recently purchased a commercial investment property and are now ready to lease the property? Alternatively are you considering moving your business into a new commercial space?

The team at Millwater Tyrrell Law are able to assist you with all your commercial leasing needs in either scenario.

Prior to meeting with one of our team members for advice regarding commercial leasing, you should ensure you give some consideration to the following key points which form part of most standard commercial leases;

• The term of the lease meaning the length of time the lease is to run for;
• Whether the lease contains any options which allow you to extend the original term of the lease in the event you comply with your obligations during the original term of the lease;
• The amount that is payable for Rent, and whether any further amounts are payable for other expenses such as outgoings and marketing levy’s;
• Whether there is any mechanism within the lease for the rent to increase and if so, how does this apply?
• Who is responsible for any maintenance of your property ranging from larger structural repairs to items such as servicing of air conditioners;
• Is the tenant allowed to carry out and works on the property during the course of the lease? If so, what is required for this to occur?
• What happens if either party breaches the Lease?
• Is any upfront security required such as a bank guarantee? Additionally, are any ongoing personal guarantees required from Directors if the tenant is a company?
• Can the tenant sublease the premises at all? If so, what is required for this to occur?
• What is the intention of the parties at the conclusion of the lease with respect to the fit out of the premises? Is the tenant required to ‘make good’ the property and return it to an empty shell or conduct any other types of work?
• Who is required to insure the property and exactly what are they required to insure?
• What is the intention of the parties if the Landlord wants to develop the premises? Can this occur? If so, what is to happen with the lease?
• How do the parties wish to resolve any future disputes through a dispute resolution process?

At Millwater Tyrrell Law, we can combine our experience in the area of Commercial Lease with our own knowledge of the local area to ensure that an appropriate Commercial Lease is prepared which tailors to your specific needs.

+ Insolvency

Life doesn’t always go to plan. The steps you take to address the situation when you find yourself in a difficult financial situation however is usually the key factor that determines that pathway that you travel and how you come out the other side of the experience.

Whether you are facing financial difficulties as an individual due to the loss of employment or a Company finding it difficult to pay its tax obligations due to a client failing to make a significant payment to you, Millwater Tyrrell Law are able to take the time to understand your situation and then in conjunction with our industry partners assist in coming up with a solution that provides you with clear direction on how to move forward.

It is most important that when you find yourself in a position of financial difficulty, you seek appropriate tailored advice as early as possible. Often, if advice is obtained at an early stage, our team are able to provide you with a straightforward solution which finds you in a much better financial position than had you buried your head in the sand and not taken any action.