ASIC loses court case against former Dixon director

The Federal Court has ruled against ASIC in its proceedings against former Dixon Advisory director Paul Ryan over concerns he acted in the interests of parent company Evans and Partners rather than Dixon’s creditors. The Court accepted Mr Ryan’s evidence that he took into account the interests of Dixon Advisory’s creditors in resolving to amend Dixon’s constitution and rejected ASIC’s contention that it should approach this evidence with caution.

More from Professional Planner and read the decision here.