Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Cruickshank v Australian Securities and Investments Commission [2022] FCAFC 128 Appeal from: Australian Securities and Investments Commission v Big Star Energy Limited (No 3) [2020] FCA 1442; 148 ACSR 334; 389 ALR 17 Australian Securities and Investments Commission v Blue Star Helium Limited (No 4) [2021] FCA 1578; 158 ACSR 196
File number: WAD 25 of 2022
Judgment of: ALLSOP CJ, JACKSON AND ANDERSON JJ
Date of judgment: 5 August 2022
Catchwords: CORPORATIONS – appeal from the decision of the liability judgment and the orders and declarations made in the penalty judgment – continuous disclosure obligations pursuant to s 674(2A) of Corporations Act 2001 (Cth) – whether information not disclosed was material to relevant investors pursuant to s 677 – whether a reasonable person would expect the information, were it generally available, to have a material effect on the price or value of the Company's shares for the purposes of s 674(2)(c)(ii) and s 677 of the Act – whether the relevant information satisfies the conditions in s 674(2)(b) and (c) of the Act – whether appellant contravened s 180 of the Act by failing to exercise care and diligence in causing or permitting the company to contravene s 674(2A) of the Act –disqualification order pursuant to s 206C of the Act – whether disqualification order was justified – appeal dismissed
Legislation: Corporations Act 2001 (Cth) ss 180, 206C, 674, 677
Cases cited: Australian Securities and Investments Commission v Adler [2002] NSWSC 483; 42 ACSR 80 Australian Securities and Investments Commission v Citrofresh International Ltd (No 3) (2010) 268 ALR 303; [2010] FCA 292 Australian Securities and Investments Commission v Flugge (No 2) (2017) 342 ALR 478; [2017] VSC 117 Australian Securities and Investments Commission v Forex Capital Trading Pty Ltd [2021] FCA 570 Australian Securities and Investments Commission v Healey (No 2) (2011) 196 FCR 430; [2011] FCA 1003 Australian Securities and Investments Commission v Helou (No 2) [2020] FCA 1650 Australian Securities and Investments Commission v Macdonald (No 12) (2009) 259 ALR 116; [2009] NSWSC 714 Australian Securities and Investments Commission v Soust (No 2) (2010) 76 ACSR 1; [2010] FCA 388 Australian Securities and Investments Commission v Vocation Ltd (In liq) [2019] FCA 807; 136 ACSR 339; 371 ALR 155 Australian Securities and Investments Commission v Big Star Energy Limited (No 3) [2020] FCA 1442; 148 ACSR; 389 ALR 17 Australian Securities and Investments Commission v Bluestar Helium Limited (No 4) [2021] FCA 1578; 158 ACSR 196 Australian Securities and Investments Commission v Fortescue Metals Group Ltd (No 5) [2009] FCA 1586; 264 ALR 201; 76 ACSR 506 Australian Securities and Investments Commission v GetSwift Ltd [2021] FCA 1384 Forrest v Australian Securities and Investments Commission [2012] HCA 39; (2012) 247 CLR 486 Gillfillan v Australian Securities and Investments Commission (2012) 92 ACSR 460; [2012] NSWCA 370 Grant-Taylor v Babcock & Brown Limited (in liq) [2016] FCAFC 60; 330 ALR 642; 113 ACSR 362; 245 FCR 402 James Hardie Industries NV v Australian Securities and Investments Commission [2010] NSWCA 332 Jubilee Mines NL v Riley (2009) 40 WAR 299 Morley v Australian Securities and Investments Commission (No 2) (2011) 83 ACSR 620; [2011] NSWCA 110 Re Idylic Solutions Pty Ltd; ASIC v Hobbs (2013) 93 ACSR 421; [2013] NSWSC 106
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate