Federal Court of Australia
CATCHWORDS CORPORATIONS - directors - directors' duties - whether respondent owed fiduciary duties and a duty of care to the company - respondent not a formal director of the company - whether respondent an "officer" under s.232 Corporations Law - whether a "director" within s.60 - whether respondent acted as a director - whether respondent merely acted as a "consultant" - husband and wife companies. CORPORATIONS - directors duties - application under s.598 Corporations Law - whether misfeasance, negligence, default, breach of trust or breach of duty by respondent - s.232 Corporations Law - common law - whether taking of company moneys when company in financial difficulty a breach of fiduciary duty - whether use of company moneys for ordinary living expenses a breach of duty - failure to account for moneys received - whether breach of duty of care by purchasing uninsured stock. CUSTOMS & EXCISE - s.35A Customs Act 1901 - s.60 Excise Act 1901 (Cth) - s.2B Sales Tax Assessment Act (No 5) 1930 (Cth) - s.23 Sales Tax Assessment Act 1992 (Cth) - liability to pay customs tax, excise tax and sales tax - whether "failure to keep goods safely" - whether liability for stolen goods is absolute. Bankruptcy Act 1966 (Cth) - s.122 Corporations Law - ss.9, 60, 232, 565, 598 Customs Act 1901 (Cth) - s.35A Excise Act 1901 (Cth) - s.60 Sales Tax Assessment Act (No.5) 1930 (Cth) - s.2B Sales Tax Assessment Act 1992 (Cth) - s.23 Australian Securities Commission v AS Nominees Ltd (1995) 133 ALR 1 AWA Ltd v Daniels (1992) 7 ACSR 759 Collector of Customs (NSW) v Southern Shipping Co Ltd (1962) 107 CLR 279 Corporate Affairs Commission v Drysdale (1978) 141 CLR 236 Daniels v Anderson (1995) 37 NSWLR 438 Kinsela v Russell Kinsela Pty Ltd (In Liq) (1986) 4 NSWLR 722 Standard Chartered Bank of Australia Ltd v Antico (1995) 18 ACSR 1 Walker v Wimborne (1976) 137 CLR 1 MISTMORN PTY LTD (IN LIQUIDATION) and HUGH JENNER WILY v MICHAEL YASSEEN NG 3115 of 1994 Davies J Sydney 2 August 1996
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