PRACTICE AND PROCEDURE – application for default judgment pursuant to r 5.23(2)(c) of the Federal Court Rules 2011 (Cth) – where second, third and fourth respondents have failed to comply with Court orders and failed to appear – where second, third and fourth respondents have failed to file notice of address for service – where second, third and fourth respondents in default of appearance – applicant entitled to relief in relation to oppression and derivative claims for breaches of fiduciary duties and ss 180-183 of the Corporations Act 2001 (Cth) – relief granted
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Australian Securities and Investments Commission v Wilson (No 3) [2023] FCA 1009
CORPORATIONS – directors’ duties – duty of care and diligence – s 180(1) of the Corporations Act 2001 (Cth) – alleged failure by managing director to tell board of termination of material agreements – consideration of hypothetical reasonable director – finding that managing director knew of possibility of termination – finding that hypothetical reasonable director…
