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Class Notes for LAWS2203 at Australian National University

Corporations Law

LAWS2203 Lecture Notes - Lecture 12: Reasonable Person, Trading While Insolvent, Debenture

Remedies Section 588FF(1) allows a liquidator to apply to a court for the following orders Requiring a person to pay to the company an amount that fairly represents the benefits the person received...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 11: Secured Creditor, Affidavit, Debenture

Compulsory Winding Up Section 459A The Court orders the winding up On an application under section 459P, the Court may order that an insolvent company be wound up in insolvency. Insolvent Section 95A: is the compan...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 11: Insolvency Practitioner, Trading While Insolvent, Objectivist Periodicals

Duty to not trade whilst insolvent Section 588G- only directors 1) This section applies if: (a) a person is a director of a company at the time when the company incurs a debt; and (b) the co...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 11: Intimate Relationship, Unfair Prejudice In United Kingdom Company Law

Compulsory Liquidation Remedies s 461 (1) The Court may order the winding up of a company if: (a) the company has by special resolution resolved that it be wound up by the Court; or (d) the...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 10: Oppression Remedy, Derivative Suit, Rebuttable Presumption

Statutory Derivative Action Section 236(1) (1) A person may bring proceedings on behalf of a company, or intervene in any proceedings to which the company is a party for the purpose of taking responsibility on behalf of th...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 10: Selective Reduction, Rugby League, Fiduciary

Members Remedies Section 232-Oppression Remedy The Court may make an order under section 233 if: (a) the conduct of a company's affairs; or (b) an actual or proposed act or omission by or on ...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 10: Hih Insurance, Fodera, Derivative Suit

Consequences of Breach of DD Who can take action for breaches ? The Board of Directors Liquidators o If the company is in liquidation, then the decision to bring a proceeding is by the liquidator ASIC o ASIC can only bring...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 9: Hih Insurance, Civil Penalty

Section 182- Improper Use of Position Civil penalty provision but if the improper use of the position is dishonest it can attract criminal liability under s 184(2) 1) A director, secretary, other officer or employee of a...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 9: Fiduciary

Statutory obligation to disclose Unlike equity they dont prohibit a director from placing themselves in conflict but require the disclosure of material personal interests concerning the affairs of the com...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture 9: Fiduciary duty

Fiduciary Duty Content 1. A duty of loyalty NO CONFLICT RULE 2. A duty to account for benefits gained NO PROFIT RULE A fiduciary can be excused if fully informed consent is obtained from the beneficiary, either prior to th...

Laws
LAWS2203
CAMERON
LAWS2203 Lecture Notes - Lecture 8: Fide, Knowing Receipt, Alan Bond

Duty of Loyalty and Good Faith Section 181 Good faithcivil obligations Good faithdirectors and other officers (1) A director or other officer of a corporation must exercise their powers and discharge their duties: ...

Laws
LAWS2203
CAMERON

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