The Corporations (Sons of Gwalia) Bill was passed by Parliament on 26 November 2010, an awaits Royal assent. The Bill will reverse the effect of the Sons of Gwalia Case by subordinating the claims of members, in relation to dealings, in shares to those of creditors.
The Federal Court last week handed down its decision in Australian Securities and Investments Commission v Firstmac Limited [2024] FCA 737. ASIC was successful in its claim that Firstmac Limited...
Usually who serves on the board of a listed company is a matter for the company itself and others, including the courts, only rarely intervene. That’s why the Takeovers Panel’s order requiring...