Wednesday, April 24, 2013

Forthcoming judgments in the High Court of Australia

The High Court will deliver judgments in three cases next Wednesday, 1 May 2013.
The first is a judgment in two cases relating to the same family company. In Beck v Weinstock, at issue is whether or not a share can be a “preference share” for the purposes of the Corporations Act 2001 when the rights attaching to it do not confer any preference or priority over the rights attaching to other shares issued in the company.  In Weinstock v Beck, at issue is the ambit of the power under section 1322(4) of the Corporations Act 2001 to validate the purported appointment of a company director by a person who was themselves not validly appointed as a director but who had been acting as a de facto director. 
The second is the judgment in Commissioner of Taxation v Unit Trend Services Pty Ltd which looks at the anti-avoidance provisions of the GST legislation and their application to a property development trust.

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