Directors Duties

Gippsreal Ltd v Hausfeld Johnson Pty Ltd [2012] FCA 956

A managed investment scheme loaned reliance on a rural NSW properties and suffered severe losses when the security proved to be worth much less than the valuations. The responsible entity of the scheme sued the valuer claiming misleading conduct and breach of contract. The valuer made a late application to plead that the officers (MD, …

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Mercedes Holdings v Waters (No 5) [2011] FCA 1428

Investors in an MFS Fund brought a class action against the responsible entity of the fund, certain directors and its auditors. Two previous attempts to amending the pleadings were refused as only the claim in negligence against the auditors was found to be viable. Nevertheless the investors now applied for leave to pursue both the …

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