The New South Wales Supreme Court has imposed bans and penalties on former directors and officers of James Hardie following the ruling in April 2009 by Justice Ian Gzell that the ten had breached their duties to the company in 2001 over a misleading media release about asbestos compensation. Some of the former executives are […]

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Australia’s Business Day has reported that The Australian Securities and Investments Commission (‘ASIC’) wants seven former non-executive directors and three former executives  at James Hardie banned from company directorships for at least five years each and fined a total of $2.8 million to $3.4 million. Justice Ian Gzell began hearing submissions on exoneration, penalties and […]

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The Australian Securities Exchange (ASX) has published its latest analysis of reporting against the ASX Corporate Governance Council’s Principles and Recommendations and finds that companies and trusts are continuing to improve their corporate governance reporting. ASX’s supervision subsidiary, ASX Markets Supervision (ASXMS), reviewed the FY08 annual reports of 1,510 listed entities that reported with a 30 June […]

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The public inquiry into the regulatory framework around remuneration of directors and executives of companies regulated under Australia’s  Corporations Act continues and a draft report is in preparation. Some 79 initial submissions have received by the Productivity Commission inquiry. Public hearings will be held in Sydney, Melbourne and Brisbane during June and July 2009. Some […]

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Closing submissions have been made in the case taken by the Australian Securities and Investment Commission (‘ASIC’) against Fortescue Metals Group for misleading and deceptive conduct. The case centres on a series of announcements FMG made to the market between 23 August 2004 and 9 November 2004 concerning certain framework agreements with three major state […]

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The notice of the AGM of AMP Ltd, the Australian life assurance company, has been amended and re-issued in light of recent board changes. Meredith Hellicar resigned from the Board following the court judgement in the James Hardie case. Hellicar was one of seven James Hardie non-executive directors who Justice Ian Gzell found to have […]

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