On bs information substantially b has obligation to

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on B’s information substantially, B has obligation to tell A about C‘s offer 。如果 B 没有告诉 A 也算 breach s181. 情况 2---------when company is insolvent or nearly insolvent the interest of creditor = interest of company
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当公司 insolvent 时, 最大化债主利益才是最大化公司利益相应的 case (1) Kinsela v Russell Kinsela Pty Ltd Trying to take property away from creditor and member can’t ratify when its insolvent (2) Walker v Wimborne interest of company become creditor when it’s insolvent . ------- Corporate groups 公司的 director 最大化 公司的 体利益, 公司的 director 最大化 公司的利益,不用 group 如果 公司的 director 为了最大化 公司的利益而 伤害 公司也是 breach s181 a. Duty (s 181) is to each company separately ; Directors can’t just consider group as a whole --- Walker v Wimborne - Every company in a group is a separate legal entity (Every individual company has limited liability – quarantine debts) - s 181 is exercisable by each company’s directors in the best interests of each individual company b. Test: whether an intelligent and honest person in the position of the director could have reasonably believed the decision would benefit the company ----Equiticorp Finance v BNZ – Co A did nice job for Co B, but it hurts creditors in Co A. Eventually all Co’s crash 破产 . Did directors in Co A believe the decision benefits Co A? Not automatically a breach of director’s duty if overall it kept things harming along. . ------- Wholly owned subsidiaries and s 187 100% 股的 公司的 director a. Director of a corporation that is a wholly-owned subsidiary (100% ownership) of a body corporate b. Subsid directors are taken to act in the best interests of the subsid (s 181) where: --- Subsid constitution expressly authorises (easy to change constitution as holding co owns 100% > 75%) --- Act in good faith in best interests of holding company
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---- Subsid not insolvent or made insolvent by the action - This Act may weaken the subsidiary. * 考试场景:什么情况下 breach s181 a. director keep personal profit, 除非 股东同意了( 超过 50 % 的投票,或者 constitution 里写了) e.g 1. Director 偷偷 收了 supplier commission 2. director 偷偷 的把公司的 介绍 自己 或者 亲戚朋友 3. director 偷偷 把公司的 information release 给别人 **leading case: (regal hasting v Gulliver) 即使 是在公司 unable to act 的情况下, 如果没有通 members ordinary resolution director 也不可以投 公司 keep or intention to keep personal profit 即使 目是 亏损 的也 breach s181 b. not to take up corporate opportunity 了公司的 -----cook v Deek case: director resign 先辞 职,再 了公司的 只要是在作为 director 的时候 接触 到的这个 opportunity, 即使辞 了职也算 breach s181 -----peso silver Mine V. case: 如果公司
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