Question

Critically analyse Sons of Gwalia Ltd v Margaretic (2007) 231 CLR 160. Discuss the major issues and rulings in the case

Answer 1

The major issues and rulings in sons of Gwalia ltd V Margaretic (2007) 231 CLR 160 are as :-

• Mr Margaretic imposes obligations on certain listed companies whose shares can be purchased on the open market to make continuous disclosure of the information, which is generally not available but a reasonable person expect to have that information.
• It have material effect on the price of the shares.
• Mr Margaretic seeks damages on account of alleged misleading and deceptive conduct of the company.
• The deed administrator applied to federal government claiming that the Mr Margaretic claim is not provable in the deed of company arrangement.
• Mr Margaretic also sought a declaration that he is a creditor of SOG, and entitled to the same rights like other creditors have.
• All the above are the issues and rulings related to the case.