Do directors owe duties to stakeholders?
19 October 2011
Corporate governance is now a key issue concerning the way in which directors conduct their business. More and more stakeholders are interested in how companies conduct their affairs and may seek a "remedy" in appropriate circumstances. Judges at times appear to suggest that directors should take into account interests other than those of shareholders, even though they generally do not go so far as to say there is a duty owed by the directors to those other interests.
Many directors worry about the risks they face if they fail to balance the interests of shareholders (the traditional view) with the interests of other stakeholders in the company. Do directors in fact owe such a duty? This seminar will explore these issues and possible reforms.
Professor Bob Baxt AO has played a number of roles in this extensive legal career including Dean of the Monash Law School in 1980 to 1988, author in the corporate law and competition law fields, chairman of the Trade Practices Commission (the predecessor of the ACCC) and has recently retired as a Partner of Freehills. He has been given the title of Emeritus Partner by the firm. Prior to becoming a Partner at Freehills in 2005, Bob Baxt had been a Partner at Arthur Robinson (later Allens Arthur Robinson) from 1991 to 2005.
Whilst an academic, Professor Baxt helped establish the Company and Securities Law Journal, the Australian Business Law Review and the Journal of Banking and Finance Law. He has been chairman of the Law Committee of the Australian Institute of Company Directors since 1994 and has served as a consultant for the Australian Law Reform Commission on two major references. He has been asked to advice governments at both federal and state levels on a range of issues.
Professor Baxt was honoured in the Queen's Birthday Honours Awards in 2003 by being awarded an Order of Australia for services to the law and has been awarded the Centenary Medal
Alan Cameron AO works principally as a company director, and an advisor on corporate governance and regulatory issues. He is Chairman of National e-Conveyancing Development Limited, Hastings Funds Management Limited , the insurance companies in the BT Financial Group, and of ASX Compliance Pty Limited, and is Deputy Chancellor of the University of Sydney. Alan is a Fellow of the Australian Institute of Company Directors.
He was national executive partner of Blake Dawson from 1989 to 1991, and managing partner from 1982 to 1985.He has been the Commonwealth Ombudsman and served for eight years as chairman of the Australian Securities and Investments Commission (ASIC) and its predecessor.
Chair: Professor Jennifer Hill
To view a copy of our online brochure, please click here.
Lawyers/barristers: attendance at this seminar is equal to 1.25 MCLE/CPD unit. For a full program of current MCLE/CPD eligible events, please click here.
Time: Registrations and refreshments from 5.30-6pm. Seminar: 6-7.15pm
Cost: See above
Contact: Centre Administrator
Phone: (02) 9351 0323
Contact: Greg Sherington
Phone: +61 2 9351 0202