. Research the three cases of early corporate collapses in Australia mentioned in the textbook on...

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. Research the three cases of early corporate collapses in Australia mentioned in the textbook on page 11: Alan Bond, Laurie Connell of Rothwells and the Girvan Corporation. Prepare a brief report outlining the case(s). What was the underlying reason for the failure? Would today's corporate governance codes, rules and regulations have prevented these outcomes? XXXXXXXXXXwords / 10 marks) 2. Explore the collapse of financial institutions mentioned in Chapter 1 on page 17 of the textbook. Prepare a brief report on corporate governance implications stemming from the global financial crisis XXXXXXXXXXwords / 10 marks)

Khushboo · Accepted Answer

Corporate collapses in Australia: brief introduction and history:
Corporate collapses are very dangerous for the economy of a country. Corporate collapses are mainly arising due to window dressing made the management of the organizations to hide their financial losses and financial conditions. Corporate losses are the biggest financial losses for the economy and sometimes there are various stakeholders involved in fraud due to which corporate collapses happens. The Australian history is not untouched with corporate frauds and collapses. There are various corporate frauds which have resulted into losses to economy and the faith of public has also been reduced in big corporations.
Three big corporate scandals or frauds in Australia which resulted into collapses in Australian history:
Allen Bond collapse was one of the major collapses in Australian history. Allen Bond was an entrepreneur and was grown and brought up in a very poor family and was based at United Kingdom. His family was shifted to Australia in 1950 and after shifting to Australia, he stated his business. Initially Allen Bond was not having monetary support and, but he kept his dreams high and became one of the richest man in Australia. He was the owner of the largest media organization of the Australia and was also having major stake in properties and mining business (Mike Head, 2000). He was indulged in such a big fraud which resulted into collapse of one of multi billionaire of Australia. His major fraud deeds include payment of high remuneration and salary to himself, money and commission from public connections and he was also selling the assets of the companies at very high price to its related parties (Adams, 2012). Allen Bond was involved in back to back loan strategies and was acquiring the new businesses from huge debt funding. Before crash of stock market, his was rising at rapid pace but after stock market crash in year 1987 his down fall also started. One of the major investment portfolios of Bond was major stake in Bell Group (TBG) and he was the chairman of the companies and his relative were directors and shareholders in the company.

. Research the three cases of early corporate collapses in Australia mentioned in the textbook on page 11: Alan Bond, Laurie Connell of Rothwells and the Girvan Corporation. Prepare a brief report...

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