The Question
ASIC v Adler [2002] NSWSC 171 was one of the most significant cases in recent Australian law. You are to present an essay/report that includes the following:
• What was the inappropriate behaviour displayed by Adler as an officer of HIH and other companies he managed and controlled?
• How did Adler’s actions contravene Australian law, in particular the Corporations Act? Please discuss the different areas of company law that were breached.
• What punishment did Adler suffer as a result of his conviction?
• What lessons does this case indicate for those who manage an Australian company?
• Make any interesting observations you believe are appropriate regarding this case, eg what have you learnt from your reading and research?
