The Situation: Australia's corporate regulator, the Australian Securities and Investments Commission ("ASIC") brought proceedings against two former directors of Tennis Australia ("TA") alleging that they engaged in numerous...more
Liability for companies launching an Australian IPO or takeover changed significantly this year—with not so much as a murmur of protest from the market. Due diligence just got more important, but the reason may surprise...more
10/3/2019
/ Acquisitions ,
ASIC ,
Board of Directors ,
Corporate Criminal Fines ,
Corporate Financing ,
Criminal Liability ,
Foreign Acquisitions ,
Initial Public Offering (IPO) ,
Mergers ,
Prospectus ,
Publicly-Traded Companies ,
Takeovers
The Situation: The Australian Securities and Investments Commission ("ASIC") recently released its report on its corporate finance regulatory activities for the first half of 2019.
The Result: While ASIC's report makes...more
10/3/2019
/ Acquisitions ,
ASIC ,
Australia ,
Board of Directors ,
Controlled Transactions ,
Corporate Financing ,
Cross-Border Transactions ,
Foreign Acquisitions ,
Mergers ,
Publicly-Traded Companies ,
Scheme of Arrangement
The Situation: The question in Termite Resources NL (in liq) v Meadows, in the matter of Termite Resources NL (in liq) (No 2) [2019] FCA 354 was whether, in circumstances where the strategic, managerial and major operational...more
The Situation: A major shareholder of Tap Oil Limited, a company listed on ASX, gave notice of an intention to spill the board, to remove all but one of the current directors, through a general meeting of shareholders.
The...more
The Background: In RBC Investor Services Australia Nominees Pty Limited v Brickworks Limited [2017] FCA 756 (10 July 2017) ("Brickworks case"), a large institutional investor sought to dismantle a cross shareholding...more