JSB171 Lecture Notes - Lecture 1: Oppression Remedy, Fiduciary, Trading While Insolvent
Document Summary
Ca persons involved in a contravention also liable: ss181(2), 182(2), 183(2) Equitable compensation: court has inherent power to award equitable compensation: tavistock holdings pty ltd v. Saulsman: must show loss caused by the breach. Exemplary damages not available for breach of fiduciary duty: harris v digital pulse pty ltd. Action of director in breach of duty voidable at instance of company: whitehouse v carlton. Rescission: transvaal lands co v new belgium (transvaal) land co: if undisclosed interest in contract put parties they were in position beforehand, voidable will not be granted where innocent 3rd parties involved. Injunctions: pacifica shipping company v anderson (director hadn"t yet taken opportunity in breach of duty threatened breach injunction: where threatened or continuing breach. Constructive trust: over property acquired as consequence of breach of duty: cook v deeks; furs ltd v. Tomkies; southern cross mine management pty ltd v ensham resources pty ltd.
