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Business and Corporations Law - Assignment

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Added on  2021-06-14

Business and Corporations Law - Assignment

   Added on 2021-06-14

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BUSINESS AND CORPORATIONS LAWKOKOTOVICH CONSTRUCTIONS PTY LTD & ORS V WALLINGTON (1995) 13 ACLC 1113
Business and Corporations Law - Assignment_1
INTRODUCTION•The Corporations Act 2001 (Cth) provides a number of fiduciary duties which are mandatory to comply by directors while making business decisions and exercising their powers.•In Kokotovich Constructions Pty Ltd & Ors v Wallington (1995) 13 ACLC 1113, the court provided a judgement based on breach of directors’ fiduciary duties.•In this case, an appeal was made against the judgement of Young J which was rejected by the Court of Appeal by providing that the fiduciary duty is breached by the director.
Business and Corporations Law - Assignment_2
FACTS OF THE CASE•Mr Kokotovich incorporated a company in which Mrs Wallington was a shareholder, and both the parties were in a relationship.•On 9th June 1992, Mr Kokotovich organised an extraordinary general meeting in which Mrs Wallington was fired. •On 10th December 1992, Mr Kokotovich issued 9,795 one dollar shares to another company for the purpose of raising capital; however, Mrs Wallington argued that shares were allocated to devalue her shares (Wolters Kluwer, 2018).
Business and Corporations Law - Assignment_3

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