Case Study Australia corporate

Jun 18th, 2015
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Alabama State University
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The Australia corporate world has been shaken by the demise of another major company, the third such collapse in a matter of weeks. “One.Tel”, the country’s fourth largest telecommunications company (telco), ceased trading on the Australian stockmarket on May 28 and was put into the hands of an administrator after an investigation of the company’s financial situation showed it to be insolvent (Cook. T, 2001). The One.Tel collapse has lay off its 1,400 workers and also impacting on a host of small creditors owed thousands of dollars for goods and services.

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1 IntroductionThe Australia corporate world has been shaken by the demise of another major company, the third such collapse in a matter of weeks. One.Tel, the countrys fourth largest telecommunications company (telco), ceased trading on the Australian stockmarket on May 28 and was put into the hands of an administrator after an investigation of the companys financial situation showed it to be insolvent (Cook. T, 2001).The One.Tel collapse has lay off its 1,400 workers and also impacting on a host of small creditors owed thousands of dollars for goods and services. Many faced bankruptcy and, according to the reports, will receive nothing from the company windup. The fact that workers entitlements are under threat while the major creditors and company executives are protected is a further embarrassment to the government which is trying to overcome the hostility engendered by its big policies over the last five years (Cook. T, 2001).This assignment embarks on the issues leading to the collapse of One.Tel ; breaches of the corporate governance and persons involved; and how the breaches could have been avoided.1.1Company BackgroundOne.Tel is the generic term used to describe a group of Australian based telecommunications companies, including principally the publicly listed One.Tel Limited (ACN 068 193 153) established in 1995 soon after deregulation of the Australian telecommunications industry (Media Coverage).The company was established by Jode

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