Hih Collapse

Topics: Cole Inquiry, Royal Commission, Australia Pages: 2 (298 words) Published: May 18, 2009

Company Law - MIT665802
Semester 1, 2009
Notice of Assignment

Marks value: This assignment is worth 40% of the total marks for the course. Word quota: 3000 words, not including footnotes or bibliography. Due date: The time for submission of this Assignment has been extended to Monday of Week 9 because of Easter Week holidays. Layout and Format:Students must use the MIT layout and format guide for assignments BibliograpyFailure to include a bibliography will incur a loss of 5 marks Late Submissions:Late submissions will be penalized at the rate of 2 marks per day including holidays and weekends. Grammar:Students must apply the MS Word grammar and spelling checker to their assignment before submission. Marks will be deducted for spelling and grammar mistakes. Assignment:

The collapse of HIH has served notice on ASIC and the Australian Government that insufficient attention is being paid on a continuing basis to the failures of corporate governance in Australia, especially from the perspective of directors’ duties. The situation does not seem to have improved since the collapse. Comment on this statement.

Continued overpage:
This is broader than just HIH. It is an assignment ondirectors’ duties, of which the criticisms of the Royal Commissioner in the HIH Royal Commission are but a part. Thus in addition to looking at the recommendations of the HIH Royal Commission, students need to look closely at what has happened since the HIH debacle and decide whether Australian companies have learnt their lesson or not. Materials:

A selection of materials of assistance in the Assignment will be looked at during tutorials in the weeks prior to the submission date of the Assignment. Referencing and Footnoting (Authorities too)


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