Case deals with the issues of statue law and case law

Assignment Help Case Study
Reference no: EM13541185

Case deals with the issues of statue law and case law. Due to breach of directors' duties, Groovy George Ltd (GG) placed into liquidation. As, this case describing, that GG has appointed four directors so the liquidator can prove by the following rules whether all of the directors breached their duties or only some of them are the liable.

These duties were falling into three broad groups under the Corporations Act 2001:

-S 180(1) the duties of care and diligence, which says the directors of GG corporations, must exercise their powers and discharge their duties with the degree of care and diligencei.

-S 181 duty to act in good faith and for a proper purpose because the Directors owe duties of good faith and loyalty because they are in a "fiduciary relationship" with GG: like in the case Elders trustee and Executor Co Ltd v E G Reeves Pty Ltd (1987) 78 ALR 193ii.

-S 182(1) improper use of position which illustrates that the directors of GG must not improperly use their position to:
• (a) Gain an advantage for themselves or someone elseiii

Verified Expert

Reference no: EM13541185

Questions Cloud

What do you think about fanny mendelssohn hensel father : What do you think about Fanny Mendelssohn Hensel’s father’s reluctance to let his daughter compose or perform in public?
State the decision rule : State the decision rule? (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)
Strategic role of procurement : Provide a critical discussion of the main reasons for the growth in the strategic role of procurement and why in practice this is often difficult to achieve, illustrating your answer with examples where appropriate.
What forces do you think would make the collapse : There are current news reports about the European Monetary Union being in substantial trouble – even that the Euro as a currency may collapse. If this were to be the case, what forces do you think would make the collapse of the union and the Euro pos..
Case deals with the issues of statue law and case law : Case deals with the issues of statue law and case law. Due to breach of directors' duties, Groovy George Ltd (GG) placed into liquidation.
How did presidential addresses and supreme court rulings : Conduct an Internet search to answer the following question: How did Presidential addresses and Supreme Court rulings begin to change the lives of the American people beginning in the mid-20th century?
How does human consciousness play out in the individual : How does human consciousness play out in the individual's life in terms of self concept, behavior, and self care? What influences are most significant in your life? How does your consciousness influence the decisions you make?
A list of those who have entered a particular half-marathon : SM Event Management Ltd organises half-marathons for various cities in the UK. It stores the following information about runners who take part in the events:
Enright is not a very conscientious individual : Enright is not a very conscientious individual.

Reviews

Write a Review

 

Case Study Questions & Answers

  Details of the task using tesco plc

Details of the task Using Tesco plc (www.tesco.com) as a case study, prepare a report of no more than 2,500 words that:

  Students are reminded to read pages related to assessment

students are reminded to read pages related to assessment rules including rules for dishonest work in the bcs student

  What are the common manifestations of alcoholic cirrhosis

What are the common manifestations of alcoholic cirrhosis? Which of these are secondary to hepatocellular failure? Which are secondary to portal hypertension?

  How they have strategically harnessed the use of operations

For an organisation of your choice, write a 600 word short case that summarises how they have strategically harnessed the use of operations and/or information systems. You could consider using Gartner research as a starting point.

  Express your views regarding diversity at workplace

Express your views regarding diversity at workplace, do you think it is a plus or a drag on the firm? Comment on how your organization manages, or, how, in general, organizations should manage diversity at work?

  Explain the differences in the water level

Explain the differences in the water level, 80% of the nonconservers in the pairs reached conservation, whereas only 50% reached conservation in general education classroom instruction.

  Claudia was suitable for promotion to vp marketing

Do you think Claudia was suitable for promotion to VP marketing from the position of Brand manager?

  What are daniel woos key challenges

What are Daniel Woos key challenges as he looks to make Sushilicious a success - how well has Woo used the various new media marketing tools to his advantage?

  Commercial and corporation law

Administrative bodies be further harmonized to create one ‘super' regulator for design and enforcement of regulation for all business entities?

  Most effective at maximizing gross margin

What price point is most effective at maximizing gross margin and what price point would you recommend as the most effective price? Why?

  Buying a liver

Buying a liver and answer the questions paraphrased from discussion scenario "If is all right to give away organs, why should why should it be (of shouldn't be )thought wrong to sell them?"

  Calculate the payments for a loan on a new complex

In this project, you will create functions that calculate statistical data for apartment complexes. You will then filter the data based on multiple criteria and calculate the payments for a loan on a new complex.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd