- 01, 26, 2014
- Comments Off on Section 729
- By whiggs
- Fundraising (Chapter 6D)
Section 729
Section 729(1) of the Corporations Act 2001 (Cth) provides that ‘a person’ who suffers loss because an offer of securities in a prospectus contravenes s 728 of the Act may recover that loss from the person making the offer. CORPORATIONS ACT 2001 – SECT 729 Right to recover for loss or damage resulting from contravention Right to compensation (1) A person who suffers […]
Read More- 01, 26, 2014
- Comments Off on Legal Nature of the Rule in Houldsworth
- By whiggs
- Fundraising (Chapter 6D)
Legal Nature of the Rule in Houldsworth
Helpfully explained by Merkel, Weinberg and Kenny JJ In summary, the rule in Houldsworth prevents a person who is a shareholder from claiming a debt, or making a claim, against the company in that person’s capacity as a shareholder of the company if payment of the debt or claim will directly or indirectly recoup the money subscribed by […]
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