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.
Paul Cooper
Unsophisticated speculators were late getting to the Centro action
Insiders suggest that the Chinese investors were unsophisticated did not understand that Centro was worth billions less than zero.
Centro shareholders vapourised by ASX
Thousands of Australian investors rue the day they invested in the Centro Group of companies, writes Martin Dougherty, a former senior journalist and part-time business consultant.
Shareholders’ chair holders getting a big slice of the action
While much attention is rightfully cast on CEO remuneration, some of the highest-paid people in corporate Australia are not executives, but rather, members of Australia’s Director’s Club.
Despite Centro crash, directors continue to collect
Corporate Australia tends to have a short memory when it comes to company directors’ pay.
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.
