H@BobGeeRe MMPRC 1 : Direct interest of 80%; indirect interest...

H@BobGee

Re MMPRC
1 : Direct interest of 80%; indirect interest of 40% * 20% => aprox 90%
2. From Independent Review document prepared by Cor Cordis included in PwC affidavit
DOCA adminsitration is the responsibility of the administrators; directors have responsibility for the corporation. Notably, some companies are not directly within scope of teh DOCA. From Brunninghausen v Glavanics [1999] NSWCA 1999.:

“a fiduciary duty owed by directors to the shareholders where there are negotiations for a take-over or an acquisition of the company’s undertaking would require the directors to loyally promote the joint interests of all shareholders. A conflict could only arise if they sought to prefer their personal interests to the joint interest. That is the very conduct which would be proscribed by the duty.”

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