Directors and Officers Claims, ASIC Prosecutions and Regulatory Matters

Bartley Cohen’s experience includes:

  • Regulatory claims arising from regulatory investigations or actions;

  • ASIC examinations;

  • Claims based on alleged breaches of duties or misconduct (including by shareholders);

  • Claims arising from employment practices;

  • Claims arising from health & safety investigations.

Early and knowledgeable legal representation is important given reputational risk, risks to personal assets and, in some circumstances, risks of criminal prosecution or civil penalty proceedings.

Bartley Cohen is also able to assist on insurance issues, including access to insurance, notifications, and actual or potential conflicts. 

Case Studies >

Acted for a director of a corporate trustee of a managed investment scheme conducting business worldwide in proceedings brought by ASIC. Concerned a loan made to a related entity of $280 million. Allegations included breaches of director's duties, failure to act as a prudent trustee, and exposing the corporate trustee to a foreseeable risk of harm by civil proceeding by unitholders. Claim dismissed.

ASIC v Drake (No 2) [2016] FCA 1552; LMIM as RE of FMIF (receivers and managers appointed) (in liquidation) v Drake & Ors, Supreme Court of Queensland proceeding 12317/14

Acted for a senior former director/CEO/Deputy CEO in various proceedings concerning a responsible entity for a registered scheme under the Corporations Act and breaches under s 601FC. Allegations included: the misapplication of more than $100 million by paying those monies for the benefit of a related party/parties; providing false information to auditors, bankers, compliance officers, external lawyers and ASIC; dishonesty; and serious, dishonest and deliberate conduct. Pecuniary penalties and orders for disqualification sought by ASIC. Related proceedings concerned: applications for the stay of proceedings; applications to access transcripts of compulsory examinations; admissibility issues; applications to set aside subpoenas; and claims for privilege against exposure to a penalty and self-incrimination. Appeared with counsel and personally.

White v ASIC, Queensland Court of Appeal proceeding no. 6306/17; White v ASIC & Ors [2013] QCA 357; ASIC v Managed Investments Ltd (No 10) [2017] QSC 096’ ASIC v Managed Investments Ltd & Ors (No 9) [2016] QSC 109; ASIC v Managed Investments Pty Ltd & Ors (No 8) [2014] QSC 204; ASIC v Managed Investments Pty Ltd & Ors (No 7) [2014] QSC 72; ASIC v Managed Investments Pty Ltd & Ors (No 6) [2013] QSC 355; ASIC v Managed Investments Limited & Ors (No 5) [2013] QSC 313; ASIC v Managed Investments Limited & Ors (No 4) [2013] QSC 15; ASIC v Managed Investments Ltd and Ors (No 3) [2012] QSC 74; ASIC v Managed Investments Ltd and Ors (No 2) [2012] QSC 72; ASIC v Managed Investments Ltd and Ors (No 1) [2012] QSC 59; Mercedes Holdings Pty Ltd v Waters (No 8) [2013] FCA 601; Mercedes Holdings Pty Ltd v Waters (No 7) [2013] FCA 138; Mercedes Holdings Pty Ltd v Waters (No 6) [2012] FCA 1412; Mercedes Holdings Pty Ltd v Waters (No 5) [2011] FCA 1428; Mercedes Holdings Pty Ltd v Waters (No 4) [2011] FCA 666; Mercedes Holdings Pty Ltd v Waters (No 3) [2011] FCA 236; White v ASIC & Ors [2013] QCA 357; Anderson & Ors v ASIC [2012] QCA 301; ASIC v ACN 101 634 146 Pty Ltd (in liquidation) and Ors [2013] QSC 280.

Acting for a director and shareholder of an ASX listed company in proceedings involving claims for: oppression; lack of good faith; breach of fiduciary duties and duties under the Corporations Act; misleading and deceptive conduct; other breaches of the (then) Trade Practices Act; and insider trading.