Restriction Flashcards
Gasco
12 months
Squash
Entire Tenure
Swanpool
Entire tenure - particular weight on 12 months
Business Communication -v- Baxter
Must prove honestly and responsibly - burden of proof on directors
Tralee Beef and Lamb
Expressed doubt on blanket onus, inconsistent with fairness and justice
Squash
Misjudgment may be irresponsible, may not include dishonesty, test goes further.
La Moselle
Test - compliance, incompetency, responsible for insolvency, net deficiency in company assets, lack of probity
Tralee beef and lamb
5th test - Compliance with common law duty of skill and care
Re Usit
Considered honesty and responsibly - no causal link to the conduct, matter of degree, dishonesty goes to core of integrity, implies improper dealing with money, stealing, dishonesty = irresponsibility but not the other way around.
Usit
Test to applying La Moselle - Not exhaustive, may be guilty of one or more factors and not be guilty, look at facts, guilty of all, no bearing on insolvency, guilty of one may be so fundamental to insolvency
Gilson Motors
NED Tax returns - restricted. Wife avoided restriction
BOD Investments
Revenue funds to pay debts, lack of probity
College Freight
Delay lodging SOA refused to explain, failed to maintain accounts
Mint Restaurant
Company credit card for personal use
Leahy -v- Doyle
Tax liability to fund company
