Breach of Common Law and Statutory Duties Under the Corporations Act 2001

On 17 February 2012 Builders Hardware Ltd., made public a new share issue proposal. The Company also made it clear that this would only apply to those who registered their shares before 31 December 2003. This was done in a bid to lock out the Victoria-based Powertools Ltd. from acquiring Builders H. Ltd. The takeover issue resulted in the revelation that all was not well within Builders H. Ltd.; there is possibility that the directors might have breached common law and statutory duties as stipulated under the Corporations Act 2001. According to the Corporations Act 2001, company directors are subjected to a broad range of duties. Keenly examining these duties reveals many violations of the Act by Helen as an executive director, the entire management under the board of directors of Builders H. Ltd.

Board of Directors

The...
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