Australia Leading Case salomoncorporate groupconsolidated accounts

Industrial Equity Ltd v Blackburn

[1977] HCA 59; (1977) 137 CLR 567

JurisdictionAustralia

CourtHigh Court of Australia

Year1977

StatusBinding authority

Key Principle

Statutory consolidation of group accounts is for information only and does not displace separate legal personality; a holding company cannot treat a subsidiary's profits as its own divisible profits.

Area of Law

Company, Insolvency & Banking

Related Cases

ASIC v Citigroup Global Markets Australia Pty Ltd (No 4) [2007] FCA 963; (2007) 160 FCR 35

ASIC v Plymin (Water Wheel) / Elliott v ASIC [2003] VSC 123; (2003) 46 ACSR 126

Spies v The Queen [2000] HCA 43; (2000) 201 CLR 603

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