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A corporation is a statutory body, which works with the minds and bodies of some individuals that are known as directors and officers of the company. It was held in the case of king V. A king & co. (1897) 14 TLR 98 that such officer and directors are expected to work in an exceedingly affordable manner that should bring positive results to the corporation. As presently, many of the c...
Lewski v Australian Securities & Investments Commission (No 2)  FCAFC 171
A Responsible Entity (RE) of a managed investment scheme (The fund - the Prime Retirement and Aged Care Property Trust) was Australian Property Custodian Holdings Limited (APCHL). The four directors of APCHL decided that the constitution of The Fund must be amended and the decision is taken on 19th July 2006. By amending th...
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This report is the study of the case ASIC v Vines 55 ACSR 617 that was the leading case of Australia. The facts had been analysed in the case introduction that will show that how Mr Vines had been negligent of his duties. The duties and responsibilities of an officer were breached as provided in the Corporations Act. After this case, several developments had been made in the field of Corporation law. The NSW Court of...
Case: Australian Securities and Investment Commission v Sino Australia Oil and Gas Limited (in liq)  FCA 934
The case of Australian Securities and Investment Commission v Sino Australia Oil and Gas Limited (in liq)  FCA 934 has been selected for this part of the assignment. The case has been selected as it has two years since the case has been decided and the same is concerned with the director’...
The paper purports to discuss the case of ASIC v Padbury Mining Limited  FCA 990 that lays down discussion in relation to the duties of the directors under the Corporation Act 2001 (Cth). The duties of the directors are given by the members of the board of directors of a company who has been provided with the duties under the provisions of the statute as well as the common law. These are the obligations that are kno...
Case Study: Australian Secureties and Investment Commission v Healey(2011)
The Australian Securities and Investment Commission (ASIC) had commenced proceedings against the directors, Chief Financial Officers of the Centro Property Trust (CPT), Centro Properties Limited(CPL) and Centro Retail Trust (CRT). The ASIC had alleged that the directors and the chief financial officers of the Centro group of companies had co...
Corporations are non-individual body, which cannot act with it is own mind , so for this reason there are some directors and officers in every corporation who deals with people and take various decision in the course of running a corporation successfully. It is the duty of such appointed directors and officers to work in the best interest of the organization. Success of a corporate depends on the fact that how wisely it i...
The case was initiated when ASIC brought a case against Fortescue Metals Group Ltd (‘FMG’) and Andrew Forrest (‘Forrest’ – Chairman and Executive director).
In 2004-2005, FMG was involved in a project ‘Pilbara Infrastructure Project’ of exporting iron ore and mining. Both FMG and the Forrest enter into negotiations with three Chinese companies amid August – November 2004. ...
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