Advise louise as to whether monique has validly resigned

Assignment Help Business Law and Ethics

Reference no: EM132641642 , Length: word count:1500

Assessment: Case Study Assessment

Background

You are a graduate rotating through the Commercial Law Department of a Flinders Partners, a national corporate advisory firm.

Task

See attached memorandum from your supervising partner.

Case - HYDRO FRACKING LTD - CORPORATE GOVERNANCE ISSUES

Question 1. Louise is worried about being called a "carbon criminal". She recently heard a conference presentation where the presenter emphatically claimed, "Directors have a duty under the Corporations Act to ensure their company mitigates against the risks of climate change." Evaluate the truth of this statement.

Question 2. Advise Louise as to whether there is any merit to ASIC bringing any action against any or all the directors for a breach of their statutory duties as directors of HFL. If ASIC are successful, outline the potential penalties or remedies that a court could impose against the directors. (Note: consider only statutory duties, but you should refer to case law as relevant)

Question 3. Louise wants to remove Edward from the Board of Directors. Consider each of the following possibilities and discuss any procedural requirements.

(a) If Victoria Police charge Edward with "obtaining financial advantage by deception" (an indictable offence under section 82 of the Crimes Act 1958 (Vic) carrying a maximum sentence of 10 years imprisonment), will he automatically cease to be a director of HFL?

(b) Can the Board remove Edward as a director of HFL?

Question 4. Advise Louise as to whether Monique has validly resigned as a director of the company.

Attachment:- Case Study Assessment.rar

Reference no: EM132641642

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