Lack of formality takes its toll in company decisions

Article Abstract:

The New South Wales Court of Appeal ruled in Moran v. Moranco Enterprises that the trial did not err in refusing to uphold a family corporation's share issuance that had been effected without providing notice to other shareholders. The articles of incorporation expressly required notification and a general meeting if additional shares were to be issued. The plaintiffs argued that the trial judge had discretion under section 194 of the Corporations Law to validate the issuance. The trial judge refused to do so, and the Court of Appeal agreed that the articles should be controlling.

Interpretation and construction, Cases, Laws, regulations and rules, Corporation law, Judicial review, New South Wales, Australia, Formalities (Law), Articles of incorporation

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Do we need specialist courts to handle corporate law matters? Not when there is a family law issue at stake

Article Abstract:

The Australian Federal Court decision in Roff v. Aqua Distributors Pty. to transfer the case to Family Court raises questions regarding the need for specialized courts. The matter was transferred to Family Court despite the fact that it involved corporate issues as well as divorce settlement issues. The Federal Court is considering a docketing system that would limit the number of judges that hear cases in areas like intellectual property and trade practices. The level of specialization found in law practices suggests that judges may need to become more specialized as well.

Courts, Special Courts, Analysis, Powers and duties, Courts of special jurisdiction, Family courts, Commercial courts, Australia. Federal Court of Australia

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Regulators may arrange to use the private sector but great care must be taken in doing so

Article Abstract:

Joint public-private sector arrangements have been approved by Australia's Federal Court in Boyd v. Australian Securities Commission (ASC), but they will have to be managed carefully to avoid parliamentary criticism. Boyd involved an arrangement between the ASC and Geneva Finance. Parliament, however, had criticised the Australian Government Solicitor for funding work of the Australian Competition and Consumer Commission through Optus Vision.

Contracts, Private sector, Public sector, Public contracts, Government contracts

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