DIRECTORS' DUTIES – THE INSOLVENT TRADING ISSUES FROM A LAWYER’S PERSPECTIVE 1. OVERVIEW The aim of this paper is to: provide an overview of the insolvent trading provisions under Australian law; look at the liabilities which might be imposed on a director for breach of those provisions; examine the defences and in particular: when directors can rely on someone else to tell them about the solvency of their company after Manpac v Ceccatini and Scott v Williams; and the loss of the Southern
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For ABC to successfully oppose DEF’s application, ABC may argue that there is no lawyer-client relationship between Virginia and Teddy. Since there is no statute in Australia requires the retainer to be in writing, a retainer can be implied . The onus of proof of an implied retainer is on the party alleging the existence of a retainer . In this case, there clearly is no express retainer, and therefore DEF needs to prove that there is an implied professional relationship by showing that the conversation
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(a) Is “TV Treats” bound to pay for the cocktail party and sponsorship of the soccer team? 1. Whether Jennifer has the authority to sign the contract? By approaching common law, an agent enters into a contract as a behalf of a company binds the company to the contract if it is within the scope of the agent’s authority, actual or apparent . Actual authority makes the contract to the company by the expressly or implied agreement of a company, as an agent . In this case, TV Treats Limited (“TV
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Australian School of Business School of Taxation and Business Law LEGT 2741 BUSINESS ENTITIES TUTORIAL GUIDE SESSION ONE 2012 1 LEGT 2741 BUSINESS ENTITIES Tutorial Guide TUTORIALS PURPOSE The purpose of the questions in the tutorial guide is to help interpret and apply the lecture material. Additionally, the tutorial problems and questions also allow you to practice for the final exam which will consist of similar questions. Note: there will be no answers given out to the tutorial
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| Table of Contents The article “ Carbon Complex” ________________________________ Page 1 – 3 Relevant Law & Analysis to article “ Carbon Complex” _____________ Page 4 - 6 The article “Lifecycle” _________________________________________ Page 6 – 7 Relevant Law & Analysis to article Lifecycle _______________________ Page 8 – 9 Self-assessment and feedback sheet _______________________________ Page 10 REFLECTIVE
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Introduction In acting as advisors for the Pilot’s Association Australia and Airlines Union Australia, we seek to explore the legality of the various actions of the Jetair Ltd.’s Board of Directors which ultimately lead to the hiring of a new staff body in New Zealand by JetairNZ Ltd at a lowered salary and the subsequent redundancy of Jetair Ltd.’s Australian-based senior managers and pilots. The outcomes sought by the various employee associations seek for firstly, the imposition of the Australian-based
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“In order to effectively punish and deter corporate crime, the law should impose criminal sanctions on individuals rather than on corporations.” Introduction The purpose of this research report is to discuss whether criminal sanctions should be brought upon individuals or on corporations when corporate crime is committed. In determining out who should criminal sanctions be imposed on, a key factor to consider back on is the purpose of imposing criminal sanctions, which is to ‘effectively punish
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Introduction The concept of fiduciary obligations or duty is one of the most important areas in Australian law. In this project, I will try to illustrate and explain the duties in three kinds of relationships including the relationship between a director and a company, the relationship between the promoters and the corporation and the relationship between business partners. In each relationship, what kinds of the fiduciary duties should be performed is elaborated in details. The aim of the project
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Corporation Law, (HI 5027) Assignment -2 Part-A The director’s duty to prevent insolvent trading is in s588G of Corporations Act, however there no separate law to prevent insolvent trading.s588G of corporation Law deals with protecting creditors in dealing with companies. Creditors usually don’t require protection of s588G because many creditors can protect themselves from the risk of their loan being not paid by obtaining security for the loan for example giving mortgage. So in Case the company
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1. Introduction Directors play vital role in corporate governance in which their poor management will lead to a significant change of shareholders value, measured by the company share prices. For example, ABC Learning Centre share price dropped 60% in 2 hours after it announced its profit fell 42% (Couriermail 2008). The purpose of this report is to outline the reasons of the collapses of ABC Learning Centre, Centro Properties Ltd and Hastie Group and the main financial disclosure issues
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