This case is a useful reminder of the need to use clear contractual language that reflects the intentions of the parties to minimise the risk that a Court may construe the contract in a way in which one or more parties may not have intended.
There have been a number of recent cases which have illustrated the readiness of the Federal Court to protect the interests of the shareholders as well as the integrity of the market in situations where shares have been issued and on-sold with defective disclosure. In Re Wangle Technologies Ltd and Re Poseidon Nickel Ltd, each of the companies issued shares without correct disclosure under the Corporations Act 2001 (Cth).
This case concerned alleged oppressive conduct relating to Canberra Eye Hospital Pty Ltd (CEH) which was owned by the majority shareholders (57%) and the minority shareholders (43%). Each of the CEH shareholders were ophthalmologists who performed cataract surgery at the Hospita
In this edition of Gilbert + Tobin's Corporate Advisory Update, we focus in on key legal developments over the last month which are particularly relevant to in-house counsel. In this update we discuss: The EU’s General Data Protection Regulation, Reform of the Australian data landscape, and ASX : Culture shock – the ASX gets serious about governance.