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The failed investment in JV Investor is impacting on AMGLs financial position. Primo Ltd has some money on deposit, and so to smooth over the
- The failed investment in JV Investor is impacting on AMGLs financial position. Primo Ltd has some money on deposit, and so to smooth over the current difficulties at AMGL, Primo makes an unsecured loan of $5 million to AMGL. Have the directors of Primo breached their duty to exercise their powers and discharge their duties in the interests of Primo?
See HRS [13-120], s181 and s187 of the Corporations Act and Equiticorp Finance Ltd (in liq) v Bank of New Zealand
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Financial Regulation In The Global Economy
Authors: Richard J. Herring , Robert E. Litan
1st Edition
