Level: Essential   Points: 0

Leigh Brown, Partner, Minter Ellison

Leon Pasternak, Partner, Freehills

This presentation will:

• comment on the general duties of directors under the Corporations Act
  (sections 179-190) with reference to the most significant recent cases;
• examine the personal liability of directors under various Commonwealth and State statutes; and
• consider current proposals for reform of these general duties and
  personal liabilities.

  This seminar will discuss recent cases that have clarified the significance of the continuous disclosure rules and the operation of directors duties in specific instances where companies are under stress – these will be analysed and discussed in the context of practical strategies that can be implemented by directors to ensure ongoing compliance with their legal obligations. A discussion of the fall-out of the GFC and its implications for corporate governance will also touch on the regulatory responses to the recent economic turmoil experience in Australia.

  Chair: William Onishi, Lawyer, Gibsons Lawyers and Member of the Business Law Committee, NSW Young Lawyers.