Tutorial 8
教程 8
Answer the following review questions (all taken from Hargovan)
回答以下评论问题（均摘自 Hargovan）
Be sure to identify any relevant statutory provisions and case law in your answers.
请务必在回答中注明任何相关的法律规定和判例法。
1: What evidence may support a reasonable suspicion of insolvency?
1： 什么证据可以支持对破产的合理怀疑？
2: What are the statutory presumptions of insolvency?
2： 什么是法定破产推定？
3: Can honest conduct by a director still contravene s 588G?
3： 董事的诚实行为仍可否违反第 588G 条？
4: How might honest and reasonable behaviour by a director be used by a court in an insolvent trading case?
4： 法院在破产交易案件中如何使用董事诚实合理的行为？
5: What remedies are available for a breach of s 588G(2)? Who can obtain these remedies?
5：违反第 588G（2） 条的情况有哪些补救措施？谁可以获得这些补救措施？
6: What defences are available against an alleged breach of s 588G?
6： 对于被指控违反 s 588G 的行为，有哪些抗辩理由？
7: What is ‘safe harbour’ and what do directors need to do to be able to rely on it?
7： 什么是“安全港”，董事需要做什么才能依赖它？
8: What consequences flow to a director who breaches s 588G(3)?
8：违反第 588G（3） 条的董事会承担什么后果？
9: What situations does s 588V apply to? What remedies are available and who can apply for them?
9： 第 588V 条适用于哪些情况？有哪些补救措施可用，谁可以申请？
10: Explain the roles of (a) an external administrator and (b) a liquidator.
10：解释 （a） 外部管理员和 （b） 清算人的角色。
Problem questions
问题
(you may find the guidance on page 609 of Hargovan helpful)
（您可能会发现 Hargovan 第 609 页上的指南很有帮助）
Be sure to identify any relevant statutory provisions and case law in your answers.
请务必在回答中注明任何相关的法律规定和判例法。
Wouw Books Ltd (Wouw) is a medium-sized ASX listed entity with approximately 100,000 shareholders. The Board of Directors consists of Wang (CEO), Jerry (CFO) and three independent non-executive directors, Bree (Chair), Alexis (chair of the audit committee and a former partner at an international accounting firm), and Drew, a successful novelist. The company secretary and general counsel is Charlize who oversees legal compliance.
Wouw Books Ltd （Wouw） 是一家中型 ASX 上市实体，拥有约 100,000 名股东。董事会由 Wang（首席执行官）、Jerry（首席财务官）和三名独立非执行董事、Bree（主席）、Alexis（审计委员会主席和一家国际会计师事务所的前合伙人）和成功的小说家 Drew 组成。公司秘书兼总法律顾问是 Charlize，负责监督法律合规性。
Wouw has several major retail clients to whom it supplies books and high-end stationery materials. Combined these clients account for 70% of its revenues. Over the last 18 months, several of these clients have been closing their retail stores, citing a change in consumer preferences for e-books. This has resulted in many cancelled orders, including a custom order placed on 1 July 2024 for a line of stationery products bearing the name of the retail store chain, and a large order placed on 1 August 2024 for a range of art books. The last financial report for Wouw (for the year to 30 June 2024) recorded a slim profit of $15 million. The Board declared a final dividend of 10 cents per share on 18 August 2024 when the financial and directors’ reports were released to the market. That dividend was paid on 3 September 2024.
Wouw 有几个主要的零售客户，他们向他们供应书籍和高端文具材料。这些客户加起来占其收入的 70%。在过去的 18 个月里，其中一些客户以消费者对电子书的偏好发生变化为由关闭了他们的零售店。这导致了许多订单被取消，包括 2024 年 7 月 1 日下达的一系列带有零售连锁店名称的文具产品的定制订单，以及 2024 年 8 月 1 日下达的一系列艺术书籍的大订单。Wouw 的上一份财务报告（截至 2024 年 6 月 30 日的年度）录得 1500 万美元的微薄利润。董事会于 2024 年 8 月 18 日向市场发布财务和董事报告时宣布派发每股 10 美分的末期股息。该股息已于 2024 年 9 月 3 日支付。
As a result of the cancelled orders and the changed behaviour of customers who are facing budget pressures, Jerry has been paying only 50% of the outstanding debt. Wouw’s major creditors moved the company from 30 days credit to cash on delivery from the beginning of September 2024
由于订单被取消和面临预算压力的客户行为发生了变化，Jerry 只支付了 50% 的未偿债务。从 2024 年 9 月初开始，Wouw 的主要债权人将公司从 30 天信用转为货到付款.
Late in September Jerry approached Wouw’s bank for an increase in the company’s $5 million short-term loan facility, but this was refused. An email from the bank confirmed that repayment of the total outstanding balance is due on 1 December 2024. Wang and Jerry have shared this news with the Board on 30 September. The bank’s loan is secured by a circulating security interest over all the company’s assets.
9 月下旬，Jerry 向 Wouw 的银行寻求增加该公司 500 万美元的短期贷款额度，但被拒绝了。银行的一封电子邮件确认，未偿还总额的余额将于 2024 年 12 月 1 日到期。Wang 和 Jerry 已于 9 月 30 日向董事会分享了这一消息。银行的贷款由公司所有资产的循环担保权益担保。
Bree convened a board meeting on 1 November 2024 to discuss the company’s finances. The Board papers included a current profit statement for the four months to 30 September 2024 and projected cash flows for the next three months which revealed the company had severe cash problems and was trading at a substantial loss. At the same Board meeting, Alexis requested Jerry provide weekly updates to the Board on Wouw’s cash position. Drew is absent from this board meeting as he in the last week of a one-month surfing holiday on a remote beach with no internet access.
Bree 于 2024 年 11 月 1 日召开董事会会议，讨论公司的财务状况。董事会文件包括截至 2024 年 9 月 30 日的四个月的当前利润表和未来三个月的预计现金流，这表明该公司存在严重的现金问题，并且处于重大亏损状态。在同一次董事会会议上，Alexis 要求 Jerry 每周向董事会提供 Wouw 现金状况的最新情况。Drew 缺席了这次董事会会议，因为他正在一个没有互联网接入的偏远海滩上冲浪一个月的最后一周。
After some discussion, the Board resolves to seek advice from Prudent and Wise, a firm of registered insolvency practitioners. At that same meeting, the Board discussed its previous decision on 18 August 2024 to repay a loan of $1 million made by Drew to Wouw during its pre-listing period. Charlize, who was present at the meeting, argued that the Board should not repay this loan at this time. Alexis said he would ring Drew once he returned from his holidays and discuss this with him. The Board resolved not to take any further action on repaying the loan until that conversation had occurred.
经过一番讨论，董事会决定向注册破产从业者公司 Prudent and Wise 寻求建议。在同一次会议上，董事会讨论了其之前于 2024 年 8 月 18 日做出的决定，以偿还 Drew 在上市前期间向 Wouw 提供的 100 万美元贷款。出席会议的 Charlize 认为，董事会此时不应偿还这笔贷款。亚历克西斯说，他会在德鲁度假回来后打电话给他，和他讨论这件事。董事会决定，在那次对话之前，不采取任何进一步的行动来偿还贷款。
The first meeting with Perry Prudent takes place on 2 November 2024. He recommended that his firm be appointed as external administrators. At an emergency board meeting later that same day, Wang presented a strategy for a flash sale, with 50% discounts across all floor stock to quickly generate cash flows. Charlize updated the Board on their continuous disclosure obligations under the ASX Listing Rules and included a draft letter to ask the ASX for a trading halt on Wouw’s shares from Monday 4 November 2024. Alexis submitted her written and signed resignation from the Board with immediate effect.
与 Perry Prudent 的首次会面将于 2024 年 11 月 2 日举行。他建议任命他的公司为外部管理人。在当天晚些时候的紧急董事会会议上，Wang 提出了一项限时抢购策略，所有楼层库存提供 50% 的折扣，以快速产生现金流。Charlize 向董事会更新了他们在 ASX 上市规则下的持续披露义务，并附上了一份信函草案，要求 ASX 从 2024 年 11 月 4 日星期一开始暂停 Wouw 的股票交易。Alexis 向董事会提交了书面并签名的辞呈，立即生效。
Have the directors breached s 588G? (15 marks) (Hint: think about each director individually)
董事们是否违反了第 588G 条？（15 分）（提示：单独考虑每个导演）
Could each director successfully argue any of the defences (10 marks) (Hint: think about each director individually)
每位董事能否成功论证任何抗辩（10 分）（提示：单独考虑每位董事）
Has Charlize breached any duties under the Corporations Act 2001 (Cth)? (10 marks)
Charlize 是否违反了 2001 年公司法 （Cth） 规定的任何义务？（10 分）