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Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001

Research and write a report on an Australian case involving breach of company director's/officer's duties under the Corporations Act 2001 (Cth).

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Added on  2023-06-04

About This Document

This presentation provides an analysis of the breach of duties by directors in Lewski v ASIC (No 2) [2017] FCAFC 171 under Corporation Act 2001. It discusses the facts of the case, the duties violated by the directors, the court decision, and its relevance to Australian corporations law. The presentation also highlights the importance of a narrow approach to reliance entity powers and the legal effect of constitution amendments lodged with ASIC.

Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001

Research and write a report on an Australian case involving breach of company director's/officer's duties under the Corporations Act 2001 (Cth).

   Added on 2023-06-04

ShareRelated Documents
Lewski
v Australian Securities & Investme
nts Commission (No 2)
[2017] FCAFC 171
Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001_1
Case introduction
Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001_2
Facts
• A Responsible Entity (RE) of a managed investment scheme (The
fund - the Prime Retirement and Aged Care Property Trust) was
Australian Property Custodian Holdings Limited (APCHL).
• The four directors of APCHL decided that the constitution of The
Fund must be amended and the decision is taken on 19th July
2006.
• On 22nd August 2006, the directors of APCHL decided that the
amended constitution must be lodged to ASIC (lodgment
resolution).
• After the lodgment of the constitution APCHL has listed the
trust on the ASX and fees of listing @ $33 million was given to
APCHL from The Fund.
Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001_3
b. The duties/responsibilities
breached (ex. CA sections 181 or
588G) Explain why the duties
were breached.
Lewski v ASIC (No 2) [2017] FCAFC 171 - Analysis of Breach of Duties by Directors under Corporation Act 2001_4

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