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Business and Corporation Law Assignment (pdf)

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Added on  2021-06-15

Business and Corporation Law Assignment (pdf)

   Added on 2021-06-15

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BUSINESS AND CORPORATE LAW1ContentsIntroduction......................................................................................................................................2Asden Develpoments pty ltd(in liq) v dinos....................................................................................2Facts 3Duties Breached 4Reason why duties have breached?..............................................................................................5Decision of the court........................................................................................................................6Impact of the decision of the case on the operation of Australian companies................................6Conclusion.......................................................................................................................................7References........................................................................................................................................9
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BUSINESS AND CORPORATE LAW2IntroductionIn every corporation, there are some individual bodies who act on behalf of the company andthey are known as officers of the company. But such officers need not be a director or employeeof the company every time. From every officer of the corporation it is expected that they shallperform their duties under the provided umbrella of law. Many of times, such officers commitacts which are outside of the boundaries of expectation of law provided under Corporations Act,2001 (Cth). Although these acts can be done without any mala fide intentions, but stillproceedings can be initiate against such deeds of an officer of Corporation. It is not necessarythat such deeds of an officer lead an adverse impact to corporation, yet these officers shallresponsible to breach their duties provided under section 180,181, and 182 of Corporations Act,2001. This report address one of the lead case of Australia titled “Asden Develpoments PtyLtd(in liq) v Dinos (No. 3) [2016] FCA 788”, and brief the facts, proceedings and decision givenby the court in regard to this case.Asden Develpoments Pty Ltd(in liq) v Dinos The presented case, brought an argument in between Asden Developments Pty Ltd, corporationwhich was under the process of liquidation (herein after referred as “Asden”) and Mr. Dinoris, itis one of the liquidator. In this case, question of argument was an act of Mr. Dinoris along withhis co-appointee Mr. Combis (herein after jointly referred as “Mr. Dinoris”), which has comeinto light when company has changed it is present liquidator and appointed another person onthis designation, named Mr. Clout.
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