Mallesons Stephen Jaques and Allens Arthur Robinson have united in a bid to undo growing uncertainty over the Queensland Supreme Court’s decision in the Octaviar Administration Pty Ltd  QSC 37 (6 March 2009).
Typically competitors, the firms are attempting to repair damage created by inconsistent positions in the banking and finance industry, and among legal and other advisers, through publishing a table of possible solutions.
The firms jointly briefed John Sheahan SC to refine and confirm their proposed solutions.
On 10 March this year, Mallesons sent an alert about the Octaviar decision, which raised issues around the registration of charges and variations to them. Lenders and borrowers in the market are becoming frustrated, Mallesons said.
The table of solutions is an effort to focus the debate and begin to stabilise market practice in a post-Octaviar environment, Mallesons said. See the firms’ solutions here.