‘Centro-case’ confirms duties of all directors
Australian case law
The standard of directors’ conduct stipulated in the Companies Act sets the bar high for directors, with personal liability where the company suffers loss or damage as a result of a director’s conduct not meeting the prescribed standard. The Australian "Centro" judgement confirms just how high.
The Companies Act Australian ‘Centro-case’ confirms duties of all directors
In a recent Australian judgment, the court emphasised the responsibility of directors to pay appropriate attention to the business of the company, to give advice due consideration and exercise personal judgment. This Deloitte article assesses the impact of the "Centro" case on director liability.