ASIC v Padbury Mining Limited: A Case of Director's Duties Breach
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Added on 2023-06-12
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The ASIC v Padbury Mining Limited case is about the violation of director's duties and disclosure obligations. The directors were banned for 3 years and fined $25,000 for violating the Corporation Act 2001 (Cth) and breaching their duties. The court found that the directors allowed a misleading and deceptive behavior which was probably made to deceive or mislead. The court also declared that the violation of s. 180(1) was done by the directors of the company in relation to their responsibilities. The implications of the decisions provided by the court in future of the company law in Australia are also discussed.
ASIC v Padbury Mining Limited: A Case of Director's Duties Breach
Added on 2023-06-12
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