This article was first published in Digital Asset.

“Immutable” is a term that is frequently used when people talk about blockchain and the benefit of using this technology for record-keeping.

On 29 April 2016, the Australian Government Treasury released a proposal paper that, among other things, proposed reforms to introduce an ipso facto moratorium (Proposal). This reform was foreshadowed in as part of the Australian Government’s National Innovation and Science Agenda.

The Western Cape High Court^[1] has recently passed judgment in a decision which reiterates the bounds of the duties of directors of holding companies to subsidiary companies.  Even though the case involved a damages claim against the liquidators of the holding company (in liquidation), the principle applies equally to directors.