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Part A
Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the ‘veil of incorporation' being lifted for insolvent trading. (Do not just repeat the words of the relevant sections in the Corporations Act).
And
Part B
From what you know of OHS Solutions' predicament, DISCUSS whether any of the directors may be about to breach or have already breached the duty to prevent insolvent trading. (In order to do this you will need to compare what is happening in OHS Solutions case with other precedent cases and refer to the relevant sections in the Corporations Act.) What will you advise Ying?
What is dicta or dictum?
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Mr Rushton claimed that the three men conspired to -dupe- the auditor in relation to the transfer of risk. The auditor, he said, would not have signed FAI's 1998 accounts if he had known of the true nature of the -reinsurance- arrangement.
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I just signed up and cannot download the case U.S. District Court
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