Stricter duty for directors
12 August 2009
Company directors should not jump to conclusions from the ''very special circumstances'' of the recent case against former James Hardie directors, said the prominent Melbourne barrister Neil Young, QC, speaking at the recent Supreme Court Annual Corporate Law Conference.
In an article in the Sydney Morning Herald, Mr Young said the case involved ''no ordinary ASX announcement''.
''The special circumstances make it unwise in my view to generalise the judge's findings as if they apply to every company ASX announcement,'' he said.
Directors in Troubled Times was co-sponsored by the Supreme Court of NSW, the Law Society of NSW and this year for the first time, by the Ross Parsons Centre for Commercial, Corporate and Taxation Law.
Contact: Greg Sherington
Phone: +61 2 9351 0202