Directors must act bona fide in the interests of the company and are in breach of fiduciary duty where self-dealing transactions involve a conflict of interest.
company
A company secretary is an 'officer' under the Corporations Act and owes a duty of care and diligence under s 180 in performing their functions.
Directors of an insolvent company owe duties to creditors, and bank claims may be subordinated where unconscionable conduct is established in dealings with the insolvent company.
The standard of care under s 180 of the Corporations Act is that of a reasonable person in the director's position, having regard to the corporation's circumstances and the director's office.
Get a detailed analysis of Foo Peow Yong Douglas v ERC Unicampus Pte Ltd and how it applies to your situation.
Explain Foo Peow Yong Douglas v ERC Un...