Directors have a non-delegable duty under s.180 Corporations Act to read, understand and apply their minds to the company's financial statements before signing them.
Commercial and Corporations Law
Directors of James Hardie's special purpose committee breached their duty of care by approving a misleading ASX announcement about asbestos compensation funding.
Shareholders with misleading-conduct claims against an insolvent company are not subordinated to ordinary creditors and rank equally with them in the winding-up.
A bank taking a guarantee from a spouse surety is fixed with constructive notice of undue influence where it fails to ensure the surety received independent advice.
Get a detailed analysis of ASIC v Healey and how it applies to your situation.
Explain ASIC v Healey