Assignment On Director 's Duties

Read the David Miller case from Chapter 5. After reading the case, describe a reason why someone who has been entrusted with the firm’s assets would commit a fraudulent act against the company. Based upon your understanding of the case and your professional and personal experience, recommend a series of actions that should have been taken in order to pre

The Australian Securities Investment Commission (ASIC) brought a case against Andrew Lindberg who was accused of breaching duties as a director when he was in service. Andrew Lindberg was ex Managing Director of Australian Wheat Board (AWB) who was accused to have contravened with his duties as a director. Justice Robson from The Victorian Supreme Court handled this case and on the 9th of August, 2012, the defendant was penalized. The case was brought to The Victorian Supreme Court presided by Justice Robson who handed down the penalty judgment on 09 August 2012 against the defendant.

Dhruv Dar, Sanjay Kumar and Vijay Aggarwal wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of

Issue: Have the directors of the company breached their duties mainly related to the company’s insolvent trading.

C) If Tom has breached any of his director’s duty what actions can be taken against him and by whom? (6 marks)

This paper is composed for the individual assignment for week 2 of the MBA 633 Legal Issues in the Workplace course. The topic for this assignment consists of the differences between ethical and legal business issues. This paper will provide answers to questions related to employee behavior away from the office, and the Foreign Corrupt Practices Act and bribes. Both topics have been presented in the form of video cases (video 93 and 98) found in the Cengage digital video library.

This research report documents the findings of an empirical study of judicial findings (of superior courts) relating to the duty to prevent insolvent trading. The duty to prevent insolvent trading is the most controversial of the duties imposed upon company directors.

According to UK Law, the directors should act in good faith in the interest of the company, and exercise care and skill in carrying out their duties. The Company Law Reform Bill (2005) defines, in section 154-161, the directors’ duties as follows:

As an Assistant Band Director I performed duties appointed by the Band Director. The band program consists of 360 students. As an assistant I performed office duties but also providing the students with the proper tools to be successful in their classes. These duties include but are not limited to the following: Developing new ways to help students be successful in the class room, create monthly newsletters, arranging parent/ student meetings, help students resolve personal issues, mediate conflicts that develop within the students body, organize trips, interview students for leaderships positions, assign leadership positions, returning e-mail's, filing, typing letters, arrange the yearly calendar, manage facility request, create an annual

Based on the case scenario, Doris, Betty, and Charlie formed a company called Bechdo Pty Ltd. The three members are the directors and Betty who is major shareholder holds 40% followed by Charlie and Doris who hold 20% each while the 20% is held by the rest. Based on the company constitution, a managing director has capacity to enter into a contract o behalf of the company up to a maximum of $100,000. Moreover, he/she can enter into contracts to the value of $900,000 upon getting consent for the board of directors. In this case, Bechdo Pty Ltd operates without a managing director since none was elected. The major issue is that Betty being the majority shareholder went ahead and entered into contract with BB Ltd, Jillo Pty Ltd, and

The Chapter Advisor Team went above and beyond to ensure that the chapter’s goals were not only being met but were being surpassed at all times. Despite having a hectic schedule, the advisors made the officer team as well as the members feel welcomed to ask any questions or make any suggestions. Creating ideas was strongly encouraged amongst all officers and each position was greatly respected which was truly crucial in the decision making process for upcoming events. Since early in the semester, the executive board of officers became knowledgeable of the Phi Theta Kappa responsibilities. As an organization, the Omicron Tau chapter treated teamwork as the most important characteristic because together, they stood stronger than ever before. The advisors cooperated with each other and determined each other’s skills to help the chapter flourish with efficiency by creating an outline of responsibilities for each event to maintain an organized environment.

The removal of a director by the board in the FDC case creates legal and ethical issues, which ultimately led to the onset of commercial issues. Despite the legal, ethical and commercial issues, this case is strongly indicated that there are some problems in the mechanism of removal directors stipulated in the Corporations Act 2001 (Cth) (“Corporations Act”) S 203D and S 203E. This indication is underpinned by some cases in the Australian court in which directors are removed also by the board. Therefore, this paper will analyse the legal, ethical and commercial issues regarding with the removal of FDC’s director, discuss the problem in the procedure of removal directors stipulated in the legislation, and compare other regulations in the common law and civil law countries. Finally, drafts of new mechanism of dismissal directors will be provided in this research to reform Section 203D

Accounting and management are the major pillars of an organization that contributes to the country’s economy. Introduction of AICPA Code of Professional Conduct helps in controlling the business operation especially in the accounting and management departments. Accounting and management fraud have been experienced whereby through corruption or other means, entrusted managers and accountants tend to be selfish in undertaking their duties. These factors are well addressed by the AICPA Code of Professional Conduct principles. Therefore, the study seeks to introduce two case studies whereby the management fraud have been experienced. Furthermore, the study will incorporate the use of AICPA Code of Professional Conduct in controlling the situation to ensure harmonious business operation in the management.

In relation to James Hardie case, directors breached their statutory obligations, referred in the Corporations Act 2001 (Cth) s180, in terms of acting with care and diligence, good faith and the proper use of information and position.

As directors of Australian companies, there are certain rights and obligations that are attached to the role. Directors are required to act in good faith, not use their position improperly or exploit information gained from their position to their advantage, which may cause detriment to the company. Any breach of these duties, can result in civil or criminal punishment. Director’s duties exist under common law and legislation. The Corporations Act 2001 imposes a number of duties on directors including the duty of good faith (s 181), the duty to not to improperly use their position (s 183) and the duty not to improperly use information obtained (183). Breach of any of above civil obligations may lead to the a fine of up to $200,000 on the director or even disqualification from