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What ASIC’s new DIN laws mean for Australian directors
The Australian Securities and Investments Commission (ASIC) has announced that, from 1 July 2027, obligations surrounding director identification numbers (Director IDs) will change. The amendments to the Corporations Act 2001 (Cth) (Corporations Act) which are set to commence will require that companies provide Director IDs to ASIC. This article will briefly explain the function of…
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WIJOAV v Goldstone – shareholder oppression in a private equity context
The recent case of WIJOAV Services Pty Ltd v Goldstone Private Equity Pty Ltd [2025] FCA 622 (WIJOAV v Goldstone) involved a claim of shareholder oppression under section 232 of the Corporations Act 2001 (Cth) (Corporations Act). The case established that a shareholder in a private equity fund may be oppressed by a co-investor where…
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Hylepin v Doshay: excuses for shareholder oppression?
On 19 November 2021, the Full Court of the Federal Court of Australia published its decision in the case of Hylepin Pty Ltd v Doshay Pty Ltd [2021] FCAFC 201 (Hylepin v Doshay). Hylepin v Doshay was appealed from the decision in Hylepin Pty Ltd v Doshay Pty Ltd [2020] FCA 1370 that concerned a…
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Accountant liability in shareholder oppression cases
The Corporations Act 2001 (Cth) (Corporations Act) imposes liability on directors where they engage in shareholder oppression.[1] While this is a director’s duty, third parties may also be held liable for the actions of a director or company where they were involved in the oppressive conduct. Internal and external accountants of a company can and…
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Can a ‘commercial purpose’ excuse shareholder oppression?
On 19 November 2021, the Full Court of the Federal Court of Australia published its decision in the case of Hylepin Pty Ltd v Doshay Pty Ltd [2021] FCAFC 201 (Hylepin v Doshay). Hylepin v Doshay was appealed from the decision in Hylepin Pty Ltd v Doshay Pty Ltd [2020] FCA 1370 that concerned a…
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Directors’ obligations to comply with Accounting Standards
Directors are personally liable for ensuring their company operates in accordance with corporate governance and accounting standards. Obligations contained in part 2M.2 and 2M.3 of the Corporations Act 2001 (Cth) (Corporations Act) outline obligations for companies to keep financial records and prepare annual financial and director’s reports. Sections 180 and 344 of the Corporations Act…
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Compensation and breaches of directors’ duties
Should it be held that a director of a company has breached their statutory duties, as contained in the Corporations Act 2001 (Cth) (Act), then the question arises as to how a Court will determine the amount of compensation to be paid by the errant director. The remedies provided for in the Act include declaratory…
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Are fiduciary duties owed by former company directors?
A former director’s duties and responsibilities to their previous company may not end with their resignation. Find out how the Advanced Fuels Technology Pty Ltd v Blythe & Ors [2018] VSC 286 case explored this concept and what the Court had to say.
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COVID-19 relief measures for companies
The Federal Government has passed a package of temporary measures to support businesses and relieve financial distress during the COVID-19 pandemic. Find out how these measures could affect your business and what you need to know.
Directors duties
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