AUSTRALIA

Sino chairman banned

THE Federal Court has heavily criticised the chairman of collapsed drilling technology company Sino Australia Oil and Gas for his failure to understand even the most basic requirements of a company director in an initial public offer that effectively duped investors.

Former chairman Tianpeng Shao has been banned from serving as a director of an Australian company. Although the ruling is not expected to have any practical effect as Sino was Shao's only Australian...

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