The NSW Court of Appeal has overturned the decision of the NSW Supreme Court in respect of seven directors who had received bans on serving as directors. The Supreme Court had found that they had breached their duties to the …
Read MoreThe Australian Future Fund, established in 2006 to assist future Australian governments meet the cost of public sector superannuation liabilities, has released its 2009/10 annual report. The report reveals for the first time how the Fund has cast its voting …
Read MoreThe ASX Corporate Governance Council has released a communiqué on its recent work programme and it proposal to make changes to the ASX Corporate Governance Principles and Recommendations (‘the ASX Code’) with an expected implementation date from 1 July 2010.…
Read MoreFerrier Hodgson, the administrators of ABC Learning (a former constituent of the S&P/ASX 100), are reportedly investigating a A$1bn damages claim against the former directors and the auditors. The administrators are being funded by IMF Australia (a listed company which …
Read MoreWith the AGM season for June-year end companies in Australia now all but complete, one of the last meetings of the season proved to be one of the most contentious in terms of shareholder voting. Shareholders at Goodman Group opposed …
Read MoreThe nickel producer and explorer, Western Areas, saw its remuneration report defeated at its AGM on 6 November, as Australia’s stormy AGM season continues.The voting saw 52.5% vote against with a further 2.3% in abstentions. Four other remuneration-related resolutions were …
Read MoreThe Australian Securities and Investment Commission this week announced it intended bringing civil charges against the enitre 2007 board and a former Chief Financial Officer of various entities withing the Centro Properties Group and Centro Retail Group.
This is the …
Read MoreWe noted last month that Australia’s Productivity Commission had released a detailed discussion document which included a package of suggested changes to the Corporations Act and ASX listing rules. Over 50 submissions were made to the Commission following the publication …
Read MoreThe Australian Corporate Governance Code is up for review. Under the auspices of the Australian Stock Exchange (ASX), a number of amendments are under consideration, most notably improved disclosures about gender diversity and executive pay.…
Read MoreThe first big week of Australian proxy season has seen a number of revolts on executive pay, with one ASX 100 company losing the remuneration report vote and two others seeing very significant dissent.
At Downer Edi, the remuneration report …
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