ASIC v Healey summary.
ASIC v Healey s
Resource Sample
Australian Securities and Investments
Commission v Healey
[2011] FCA 717
1
Summary
On 27 June 2011, Justice Middleton of the Federal Court of Australia handed down his
judgment in relation to proceedings brought by the Australian Securities and Investments
Commission ( ASIC) against certain directors and a former officer of Centro. He found
that each of the directors and officer had breached their duty of care and diligence in
relation to the relevant Centro entities and had failed to take all reasonable steps to
ensure compliance with the financial reporting obligations in the Corporations Act 2001
(Cth) (the Act).
2
Background
ASIC launched civil penalty proceedings in October 2009 in the Federal Court of Australia
against current and former non-executive directors, the former CEO, and the former CFO
of various entities within the Centro Properties Group (CNP) and Centro Retail Gro...
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