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WA Recourse for Breach of Contract Without a Lawyer?

Discussion in 'Commercial Law Forum' started by Razor, 25 August 2016.

  1. Razor

    Razor Member

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    Are consumers/investors who have suffered loss from a breach of contract protected by any body or legislation in Australia without engaging a lawyer?

    For example, a company who has received investment from retail investors is threatened with liquidation due to mismanagement and is unable to pay back the capital along with accumulated interest. How are these investors protected under Australian Law and by bodies such as ASIC?

    PS. These investors are a mixture of Australian Citizens and foreign investors from across Asia.
     
  2. Rod

    Rod Well-Known Member

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    ASIC may help if the amount was large enough - e.g. think millions.

    Mismanagement is not normally going to attract the interest of ASIC. Normally would need a contravention of the Corporations Act or criminal behaviour or some other law. There is no law that protects investors from incompetence.
     

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