Taking on Regional Express and four of its directors represents a change of attitude at the corporate regulator that has been missing in action for years, if not decades.

ABC Australia

Australia

Taking aim at Rex represents a return to law enforcement for ASIC

Media Bias/Fact Check

Australian Government

The Australian Securities and Investments Commission is taking Rex to court after accusing the regional airline of misleading and deceptive conduct.

The West Australian

Kerry Stokes

Corporate regulator suing Rex, directors over breaches

Rex Airlines and four of its directors have been sued for misleading Australian investors.
This comes as the debt-ridden airline is undergoing an administration process, with its future shrouded in uncertainty.
On Dec. 11, Australia’s corporation regulator Australian Securities and Investments Commission (ASIC) announced that it had taken legal action against Rex.
It alleged that Rex released a misleading ASX (Australian Securities Exchange) ann…

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The Epoch Times

Epoch Media Group

New York

United States

Rex Airlines Sued for Misleading Investors

PerthNow

City of Perth

Western Australia

Rex entered voluntary administration in July, with its businesses about $500 million in debt.

7NEWS Australia

Corporate watchdog suing regional airline Rex over ‘serious governance failures’

Rex is accused of misleading and deceptive conduct by the corporate regulator. By Alex Mitchell in Sydney Troubled regional airline Rex has been accused of misleading and deceptive conduct by the corporate regulator. The Australian Securities and Investments Commission is taking the carrier to the NSW Supreme Court, after further alleging Rex contravened its continuous disclosure obligations. The commission is pursuing former executive chair Lim…

Canberra CityNews

Canberra

Australian Capital Territory

The corporate regulator is suing listed airline Regional Express over “serious governance failures” linked to misleading profitability claims before it landed in administration.

Business News

Rex sued over alleged governance failures

Australia’s corporation regulator ASIC alleged Rex failed to disclose a profitability downgrade in February 2023 despite being aware of it.  
Rex Airlines and four of its directors have been sued for misleading Australian investors. This comes as the debt-ridden airline is undergoing an administration process, with its future shrouded in uncertainty. On Dec. 11, Australia’s corporation regulator Australian Securities and Investments Commission (…

Australian National Review

Australian National Review - Rex Airlines Sued for Misleading Investors

In Sri Lanka, the Companies Act No. 7 of 2007 outlines the duties and liabilities of directors, but the recognition of directors as employees remains nuanced. This article explores the legal framework in Sri Lanka, examines relevant case law, and compares approaches in other jurisdictions, including England, Australia, and India. Directors’ Duties and Liabilities under the Companies Act The Companies Act No. 7 of 2007 in Sri Lanka delineates the…

Conventus Law

Dual Roles In Corporate Governance: Directors As Employees In Sri Lanka. - Conventus Law

Troubled regional airline Rex has been accused of misleading and deceptive conduct by the corporate regulator. The Australian Securities and […]  
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Taking aim at Rex represents a return to law enforcement for ASIC

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