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- Title
DIRECTORS' DUTIES AND A COMPANY'S CREDITORS.
- Authors
HAYNE, K. M.
- Abstract
Questions about directors' duties and a company's creditors have again become topical. Those questions have been asked and answered by reference to a theory that the directors of a company must have regard to the interests of the company's creditors. And that theory may be seen to have been given particular content by the decision of the Court of Appeal of Western Australia in what has come to be known as 'the Bell Group litigation'. One of the principal purposes of this paper is to explore the foundations and limits of 'the consider-creditors theory'. It does so by referring to directors' duties to the company and the notion of the 'interests of the company'. And it concludes that 'the consider-creditors theory' is properly to be understood as a solution in search of a problem.
- Subjects
WESTERN Australia; AUSTRALIA; LEGAL status of corporate directors; DEBTOR &; creditor; OBLIGATIONS (Law) -- Cases; BELL Group Ltd.; CORPORATION law; APPELLATE courts; FIDUCIARY responsibility; ACTIONS &; defenses (Law)
- Publication
Melbourne University Law Review, 2014, Vol 38, Issue 2, p795
- ISSN
0025-8938
- Publication type
Article