ASIC yesterday achieved a stunning victory with the Federal Court ruling that eight Centro directors breached their directors’ duties in failing to accurately disclose the company’s liabilities to shareholders in the 2007 financial report.
Brian Healey
Centro charges put heat on Directors Club
ASIC announced today that it was bringing civil charges against the former executive and non-executive directors of collapsed property group Centro, alleging they failed to correctly classify $1.54 billion of interest-bearing liabilities.
