ASIC notes on its website - see here - that the High Court has granted leave for it to appeal the decision of the New South Wales Court of Appeal in James Hardie Industries NV v Australian Securities and Investments Commission [2010] NSWCA 332. ASIC is seeking to uphold the finding of the trial judge (see [2009] NSWSC 287) that the directors approved an ASX announcement made by the company and in doing so were in breach of duty.
Tuesday, 17 May 2011
Australia: High Court grants ASIC appeal in James Hardie case
ASIC notes on its website - see here - that the High Court has granted leave for it to appeal the decision of the New South Wales Court of Appeal in James Hardie Industries NV v Australian Securities and Investments Commission [2010] NSWCA 332. ASIC is seeking to uphold the finding of the trial judge (see [2009] NSWSC 287) that the directors approved an ASX announcement made by the company and in doing so were in breach of duty.
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