The Indigenous corporation must operate the business as a social enterprise
Hall & Wilcox has advised Taarna Enterprises, an Indigenous corporation, on its acquisition of a glass and aluminium business and its land in Alice Springs.
The NT government gave a $3.5m grant to Taarna Enterprises for the purchase under the condition that Taarna Enterprises operates the business as a for-profit social enterprise to bolster Indigenous employment and training in Alice Springs as well as remote communities in Central Australia.
“There are numerous Indigenous entrepreneurs who have wonderful business ideas that can transform their communities. Sometimes these Indigenous entrepreneurs need some assistance to get started. The Northern Territory Government has provided this assistance, and I have no doubt that Taarna Enterprises will provide meaningful employment and training to many Indigenous people in the Alice Springs area”, Hall & Wilcox lead partner Brad Marland said.
Marland led the firm’s team alongside fellow partner Jacqui Barrett. Barrett and lawyer Alexander Connolly provided advice on the business purchase. Marland and lawyer Jordan Petrie advised on property issues. Partner Jim Koutsokostas, with lawyers Luke Raams and Bradley White, advised on stamp duty. Partners Aaron Dearden and Fay Calderone, along with senior associate Jarrad McAuliffe, provided advice on employment transfer of business.
Hall & Wilcox offered its services pro bono in this transaction.