Artificial Intelligence (AI) has been referred to as both innovative and a threat to the status quo. In the legal profession, its potential to assist lawyers must be evaluated against its potential risks and shortcomings.
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The new ipso facto regime enacted by the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 in 2017 amends the Corporations Act 2001 (Cth) (Act) by introducing a “stay” to the enforcement of contractual ipso facto provisions that are triggered upon the occurrence of certain insolvency related events. The amendments apply to all contracts entered into on and from 1 July 2018.
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