Case Study of Corporate Law

2096 words 9 pages

(Case- study ) | May 30
2013 |

Commercial applications of company law

CONTENTS

1. INTRODUCTION ................................................................................ 2

2. ISSUES ………………………….................................................... 2 3. ARGUMENTS OF THE DIRECTORS FOR THEIR DEFENCE.................... 2, 3

4. ARGUMENTS PUT BY ASIC AND THE COMPANY............................ 3,4

5. BREACH OF …show more content…

Also consider consequences where director is liable for insolvent trading and some of the orders that can be made under Sections 588J-588Q and Section1317E.

Arguments put by ASIC and the company

1) The first issue to deal with is the liability of directors for payment of the interest on the loans to friendly Bank Ltd. The courts will first decide whether or not the directors of the company have engaged in insolvent trading and breached s588G. ASIC can argued against all the directors under section 588G, which implies upon a person if (a) A person is a director of a company at that time when the company incurs a debt, (b) The company is insolvent at that time or becomes insolvent by incurring that debt, (c) At that time, there are reasonable grounds for suspecting that the company is insolvent, or would so become insolvent, as the case may be; (d) The director is aware at the time the debt is incurred that there are reasonable grounds for suspecting the company is insolvent or a reasonable person in a similar position in the company s circumstances would be aware.”(Hanrahan, et.al. 2013)

Company insolvency means according to section 95 A (1) defines solvency as being able to pay debts as and when they fall due. Section 95 A (2) defines insolvency as not being solvent. In this situation it is highly likely

Related

Google Inc. in China
7735 words | 31 pages

Case Study Analysis Template1 Analyst’s Name: ¶ Date: ¶ Case Study Name: ¶Google Inc., in China I. The Pre-Analysis: A. Perspective: A.1. Describe the perspective2 of the author(s) of the case study and the possible biases that might result from that perspective: ¶ The case study is titled Google Inc., In china, written by Kirsten E. Martin for the Business Roundtable Institute for Corporate Ethics. Kirsten Martin is the Assistant Professor of Business and Economics at….

Show More
Case Analysis: Mattel and Toy Safety
1729 words | 7 pages

Case Analysis: Mattel and Toy Safety Introduction Mattel Corporation is the largest toy company in the world, a publicly traded organization with a market capitalization of over $6.5 billion, employing approximately 36,000 people worldwide in 42 countries. Their products are sold in 150 nations (mattel.com). In the summer of 2007, Mattel suffered a major product recall incident. The first recall was the result of vendor failure in China where traces of lead paint were discovered….

Show More
Alphatec case
2487 words | 10 pages

6. How would the outcome have differed in the US? In the UK? 5. What were the problems of Thailand’s old bankruptcy law? Would you change anything in the new law? 4. Why are AIG and Investor AB willing to invest in ATEC? Returns and risks? 3. As one of ATEC’s banks, would you have voted for the its modified bankruptcy reorganization plan? 2. As one of ATEC’s banks, would you have voted for the February 1998 out-of-court restructuring proposal? 1. How much is management to blame….

Show More
Literature Review on Business Ethics
6428 words | 26 pages

making, corporate social responsibility and overall corporate structure. Increased corporate scandals and the discovery of a rise in unethical business practices have thrown the topic of business ethics into the spotlight. Organizations are expected by their stakeholders to implement strong ethics within their corporate structure and culture. This expectation could be accomplished through strong ethical leadership, formal structures and regulations that place emphasis….

Show More
Corporate Environmental and Social Management
7345 words | 30 pages

CORPORATE ENVIRONMENTAL AND SOCIAL MANAGEMENT Unit 46 Assignment Table of Contents Introduction............................................................................................................................ 2 I. The development of global, European and national policies relating to sustainability. 2 1. Changing attitudes of public, politicians and businesses to the environment since 1945 ..........................................................................................….

Show More
Tjx Companies Global Strategy
2395 words | 10 pages

Global Strategic Management A Case Study of the TJX Kestrel L. Ambrose American Public University System Abstract TJX Companies, Inc. is known as the world’s leading off-priced retailer of apparel and home fashions. With its steadily growing brand portfolio, the company aims to offer consumers better value proposition than department stores. Keywords: global strategic management, corporate governance, off-price retail, Global Strategic Management: A Case Study of The TJX Companies, Inc….

Show More
Corporate Political Strategies and Employment at Will
5843 words | 24 pages

Corporate Political Strategies June 24, 2011 Abstract Whether or not corporations should have political strategies is debatable by many strategists, corporations, and political interest groups. There are advantages and disadvantages to this issue, so to decide one has to weigh the advantages against the dis-advantages. In my opinion, corporations should consider political strategies as an essential part of their business tools. The actual and potential impact that governments have on corporations….

Show More
Ethics and Corporate Social Responsibility in Driving Organizational Success for Multinational Companies in Oil/Mining Industry
4566 words | 19 pages

MELBOURNE INSTITUTE OF TECHNOLOGY GRADUATE SCHOOL OF BUSINESS AND LAW ETHICS AND CORPORATE SOCIAL RESPONSIBILITY IN DRIVING ORGANIZATIONAL SUCCESS FOR MULTINATIONAL COMPANIES IN OIL/MINING INDUSTRY Submitted in partial fulfillment of the degrees Masters in Business Administration Lecturer: Eileen O'Leary 2010 By: Albertus Rendy Buntaran (S3264165) Executive Summary This paper provides a broad definition of ethical behavior and Corporate Social Responsibility (CSR) in the competitive world of oil….

Show More
Petrochina Case Analysis
1097 words | 5 pages

PetroChina Case Analysis The article “PetroChina: International Corporate Governance with Chinese Characteristics” describes the major concerns about PetroChina’s corporate governance when and after it was listed on NYSE and HKSE, which was the first Chinese state-owned enterprise launched IPO overseas. This paper is based on the information provided by the article and will discuss in three aspects: Firstly, why corporate governance was important for China’s SOEs? Secondly, what were the special….

Show More
Case Study - Vertu, Gucci, Lv
1832 words | 8 pages

countries, influence or leverage the active corporate technology, investing in growing markets to add revenue sources and more. Other factors or problems that impact whilst globalising LV, Gucci and Vertu are the unsteadiness in emerging markets, the change in consumer trends and purchasing behaviour, the economic slowdown, competition, management of global relationships and more. If Gucci, LV and Vertu were to expand in international markets Labour laws and taxations can be a problem too. For….

Show More

Popular Essays