CommBar Matters

The Commercial Bar Association of Victoria Inc. A0120851O

Tagged: Corporations Act 2001

Corporations and Securities Law

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Appeal against leave to amend statement of claim in group proceeding

The Victorian Court of Appeal has refused an application for leave to appeal against a decision of a trial judge to allow a plaintiff to amend his statement of claim in a group proceeding. The amended pleading relates to the interpretation of section 729 of the Corporations Act 2001 (claim for loss and damage arising from misleading or deceptive statements in a disclosure document).

Corporations and Securities Law

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Mansfield v The Queen; Kirzon v The Queen (2012) 293 ALR 1

In this case, the High Court rejected an argument that to constitute ‘insider’ trading in contravention of the Corporations Act 2001, the information of which the accused person is in possession must be true and accurate. Justices Hayne, Crennan, Kiefel and Bell delivered a joint judgment and Justice Heydon delivered a separate judgment in which his Honour agreed with the plurality that the appeal ought to be dismissed.