Silkman v Shakespeare Haney  NSWSC 148
11 March 2011
This case concerned a mortgage fund which suspended redemptions after the GFC and notified members of impairment losses due to a drop in the value of the mortgaged land. A member who had monies invested in the scheme requested the fund to make...
ASIC v Fortescue Metals Group  FCAFC 19
18 February 2011
ASIC prosecuted alleging breach of the continuous disclosure obligation in section 674 Corporations Act and misleading and deceptive conduct. Fortescue made ASX announcements that it had entered “binding agreements”, which were in fact merely...
ASIC v Axis International Management (No 5)  FCA 60
08 February 2011
The prosecuted company (acting as a broker) distributed an application form for the purchase shares in a Cayman Islands company. The Cayman Islands company had not lodged a prospectus with ASIC. The Cayman Islands company proposed to develop and...