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http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/nsw/NSWCA/200...

  1. asxhitman
    56 Posts.
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    22/11/08
    21:18
    Post #: 4528333
    http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/nsw/NSWCA/2006/360.html?query=ca2001172%20s254u

    Worth a read.makes it very clear that the legislation simply mirrors the common law and that once a dividend is declared a debt arises to the shareholders which cannot be revoked.
    AMA Price at posting: 4.0¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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