Directors' Duties During Insolvency 2e.
Publication Date :
6 Dec 2011
2 Rev ed
Directors' Duties During Insolvency provides practical assistance to: . insolvency practitioners; . directors; . creditors who deal with corporate entities which may be insolvent; . accountants and lawyers giving advice to corporates; and . insurers of directors and officers and their reinsurers. This book provides an overview of the theoretical framework of directors' duties and the ways in which breach of such duties may be utilised to recover money for distribution to unsatisfied creditors of insolvent companies. It also comments on recent developments such as the report published by the Federal Corporate and Markets Advisory Committee (CAMAC), Corporate Duties Below Board Level, which recognises the realities of modern corporate structures and the fact that many significant decisions are made by managers without reference to the board. This second edition reflects a significant legislative shift since the first edition was published, from the Corporations Law to the Corporations Act 2001 (Cth). It also provides coverage of a number of key decisions in this complex area of law to give practical real life examples of the legal principles which arise, including those that deal with s 558G of the Corporations Act 2001 (Cth) - the provision that enables directors to be held personally liable for insolvent trading. This edition also includes new chapters on directors' duties in a formal administration and trustee company director issues. Each chapter opens with a concise summary of chapter objectives. Written by a team of insolvency lawyers at Allens Arthur Robinson, the second edition of Directors' Duties During Insolvency is an invaluable guide to all those who wish to understand the duties of directors at a time when there is a greater focus on directors' conduct generally.