This is a study of the case of ASIC v Adler (2002) 41 ACSR 72

.In this presentation you are required to address the following issues:

Explain very concisely what happened in this case? Who were the main parties at fault in this case, and what were their positions in the company?

What were the primary legal issues regarding directors and officers duties were relevant in this case? Refer to appropriate sections of the Corporations Act and case law.

What were the penalties given to the different parties who were prosecuted in this case?

What should have been the actions of the directors and officers when it was discovered that the company was probably insolvent?

Why was ASIC involved, where there are any other authorities involved in this case?

Did you find any interesting observations or comments from writers or observers of this case?

Do you have any reflections or observations of your own regarding this case? What does this case teach us about expectations of those who manage companies in Australia?