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BUSL250 - Commercial and Corporate Law

   

Added on  2020-02-24

6 Pages855 Words87 Views
Running head: COMMERCIAL AND CORPORATION LAWCase of Steven Andrew SoongName of the student:Name of the university:Author note

1COMMERCIAL AND CORPORATION LAWTable of ContentsIntroduction:...............................................................................................................................2Discussion:.................................................................................................................................2Accusation:.............................................................................................................................2Infringed section:....................................................................................................................2Consequence...........................................................................................................................3Relevant cases........................................................................................................................3Conclusion:................................................................................................................................4Reference:..................................................................................................................................5

2COMMERCIAL AND CORPORATION LAWIntroduction:In recent times, various companies are being held liable for committing certainunethical duties and involved in certain malicious activities. Various newspapers arehighlighting the news and the breach of duties by the directors has become a burning topic inAustralia. In recent times, there is an increment of Ponzi schemes notified in Australia. Thename of Steven Andrew Soong is adding more importance to this scheme and the same hasbeen published in Weekly Times.Discussion:Accusation:An investigation has been done and inquiry has been made in the office and residenceof Mr. Soong regarding an allegation of tax evasion. As per the report submitted byliquidators and the Australian Securities and Investigation Commission, it has revealed thatMr. Soong has engaged three companies and botched to disburse tax correctly. Allegation hasmade that the tax assessment of the corporations or companies are also not satisfactory. Asper the report that have been submitted by the ASIC, he has also futile to carry out his dutiesappropriately and he had unruffled the amount overdue and does not reimburse it back to theoffice of taxation (Lian</a> and Lian, 2017). Accusation made by the chosenliquidators by ascertaining that all the alleged companies belonging to Mr. Soong has beensuffering from tax burdens and all the tax profits have been pending before the proper office.John Price squabbled that Mr. Soong has enjoyed all the inequitable compensation bycoddling himself into the phoenix activities.

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