NEED A PERFECT PAPER? PLACE YOUR FIRST ORDER AND SAVE 15% USING COUPON:

4.8/5

Corporate law question answer hint

_x000D_
Corporate law question answer hint

_x000D_
Question no.1 hint

_x000D_
Director’s duties

_x000D_
Duty of care skill diligence section 180

_x000D_
Case applied – (a) AWA v Daniels

_x000D_
(b) Daniels v Anderson

_x000D_
Discuss the court of appeal decision what must directors do to comply with their duty? List the things Explain difference between executive and non-executive directors

_x000D_
Is the duty the same for both?

_x000D_
Format letter

_x000D_
Dear ASIC

_x000D_
The purpose of this letter is to advise whether there have been any breaches of corporation ACT 2001 (cth)

_x000D_
1st well tells us who are director 3 managing director executive, non-executive director. Explain who owes director duties. Common law-duty of care skill of diligence. Brief explanation – s180(1) (business judgement rule as a defence……..), Duty of care, skill and diligence. (Don’t write in IRAC form. This is your research part)

_x000D_
Conflict of in-front

_x000D_
Common law + Section 182-183

_x000D_
Relevant case

_x000D_
Duty of disclosure (Public Company)

_x000D_
Remedies (Common law, Civil + Criminal law)

_x000D_
Breach of director’s duty (Conflict of interest)

_x000D_
Breach of fiduciary duties

_x000D_
In last part of letter

_x000D_
You have good reasons to take action against these director and to seek remedies as discussed

_x000D_
Question no.2 hint

_x000D_
Issue

_x000D_
What Rodney’s legal remedies

_x000D_
Rules

_x000D_
Directors duties, Discuss the common law and section dealing with director taking a corporate opportunity refer to a case with IDENTICAL FACTS.

_x000D_
Removal as directors (pty co, rule)

_x000D_
Discuss remedies – majority shareholder are wrong does who will not bring action.

_x000D_
S-232

_x000D_
S-236 (Statutory derivation action)

_x000D_
Most common examples of Conflict of interest

_x000D_
Diversion of business opportunity. Green V bertobell Industries pty ltd (1982) 1 ASIC 1.Cook V Deeks {1916} 1 AC ssaMisuse of company funds :- Paul A Davies (aust) pty ltd V Davies

_x000D_
Secret profits:-Regal (Hastings) Ltd V Gulliver

_x000D_
Member remedies, directors/ Majority stakeholders Vs members minority shareholders

_x000D_
Statutory remedies

_x000D_
The minority oppression remedy: S232 (empower the ASIC and any member of the company to apply to the court….) What oppressive means eg of oppressive –Exclusion from management : Fenuto pty Ltd Vs Bosjak Holding pvt Ltd.

_x000D_
Derivate action : S236-237

_x000D_
Unlikely the company itself will bring action

_x000D_
Serious question

_x000D_
Statutory injunction : s1324

_x000D_
Winding up the company : S461

_x000D_
Directors act in their own interest

_x000D_
Application

_x000D_
What have lily and morris done wrong?

_x000D_
Bonus

_x000D_
Cars

_x000D_
Set up new company to direct business

_x000D_
Personal action (s232)

_x000D_
Rodney wants to protect $100,000.00

_x000D_
Excluded from management

_x000D_
He is affected shareholders. S233 remedy-winding up

_x000D_
S236

_x000D_
Rodney needs “leave” of the court

_x000D_
Serious question to be tried

_x000D_
Directors/majority shareholders not likelyto defend company against wrong does.

_x000D_
Can seek repayment to co, of bonuses profit from diverted contract.

_x000D_
Can seek injunction to stop payment of bonuses.

_x000D_
Conclusion

_x000D_
Question no.3 hint

_x000D_
Definition of solvency sec 95A,

_x000D_
Section 95A of the corporation act 2001 (cth) states

_x000D_
ISSUE

_x000D_
Is the company insolvent, if it is, what must bill and bob do?

_x000D_
RULE

_x000D_
Insolvency definition

_x000D_
A person includes a company……..

_x000D_
Under section 588G, a director has a duty to prevent insolvent trading.

_x000D_
A director face civil and criminal liability for breach of section 588G. This can include civil penalties under subsection1317E(1)

_x000D_
Reason why they were worried?

_x000D_
Voluntary administration, winding up / Liquadition (the options available to the directors include)

_x000D_
Liquidation is a drastic option-shouldn’t be the 1st option if the company Is viable

_x000D_
Sect 435A of the act states that “the object of {Voluntary administration} is to provide immediate winding up of the company.”

_x000D_
The aim is to rehabilitate the company s435A. 3 option —-s439C

_x000D_
End the administration

_x000D_
DOCA (Deed of company arrangement) explain

_x000D_
Place company in liquataionWhat happens with voluntary administration

_x000D_
Moratorium (explain)

_x000D_
Director’s guarantees

_x000D_
Deed of company Arrangement or any other options

_x000D_
APPLICATION

_x000D_
There is no income just outgoing. This means the company is insolvent

_x000D_
CONCLUSION

_x000D_
They should appoint an administrator

_x000D_

Solution:

15% off for this assignment.

Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!

Why US?

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Money Back

If you are convinced that our writer has not followed your requirements, feel free to ask for a refund.

WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!