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Reverberations after the HIH and other recent Australian corporate collapses: the role of ASIC

du Plessis, Jean J. 2003, Reverberations after the HIH and other recent Australian corporate collapses: the role of ASIC, Australian journal of corporate law, vol. 15, pp. 225-245.

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Title Reverberations after the HIH and other recent Australian corporate collapses: the role of ASIC
Author(s) du Plessis, Jean J.
Journal name Australian journal of corporate law
Volume number 15
Start page 225
End page 245
Publisher Centre for National Corporate Law Research, University of Canberra
Place of publication Belconnen, A.C.T.
Publication date 2003-06
ISSN 1037-4124
Keyword(s) corporate law
Summary This article focuses on some of the litigation and other developments following the recent spate of corporate collapses in Australia. It gives a basic background to abuses of the 1980s, followed by a short description of some of ASIC's statutory powers. The remaining parts of the article focus on the role ASIC played in instituting actions against the directors of some of the collapsed corporations and in particular what ASIC seeks to achieve with high profile litigation. The article concludes that there is no doubt that in the aftermath of these massive corporate collapses ASIC fulfilled its role as the primary Australian corporate regulator with assiduousness. However, it also draws attention to the fact that the challenges for ASIC now will be to play a far more active role in assuring that signs of corporate collapses are detected at the earliest possible juncture. This will probably mean that ASIC's focus will have to be more and more on monitoring companies, rather than on its role as regulator and enforcer in the strict sense of the word.
Language eng
Field of Research 180109 Corporations and Associations Law
Socio Economic Objective 970118 Expanding Knowledge in Law and Legal Studies
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2003, University of Canberra, Centre for National Corporate Law Research (and) LexisNexis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30002074

Document type: Journal Article
Collections: School of Law
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