Abstract
Two recent decisions of the New South Wales Supreme Court illustrate a shift in thinking in relation to the legal duties owed by the chair of the company board. However, what makes the two decisions even more interesting is that they appear to take steps in the opposite direction to one another. The New South Wales Supreme Court decision in ASIC v Rich on 24 February 2003 contained a move towards greater legal responsibility for the chair. However, on 10 July 2003, the New South Wales Court of Appeal was prepared to release the chair from the responsibilities ordinarily owed to the company in Whitlam v ASIC.
| Original language | English |
|---|---|
| Journal | Australian Corporation Practice |
| Publication status | Published - 2003 |
Keywords
- Whitlam v Australian Securities and Investment Commission
- corporate governance
- directors of corporations
- law and legislation
- liability (law)
- New South Wales