July 2022

A recent UK High Court case has placed the spotlight, once again, on the reasonable reliance defence of directors. In an April 2022 decision, Hunt v Balfour-Lynn, the UK High Court dismissed a liquidator’s claim that the directors had breached their duties to the company by entering into a tax avoidance scheme.  (In the alternative, […]

At the end of last week, the High Court upheld a direction order by the Financial Markets Authority (FMA) to property developer and syndicator Du Val to remove advertisements published on social media on the basis that they were likely to mislead or deceive investors, and contravene the ‘fair dealing’ provisions in the FMC Act.