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- Title
For Whom the Bell Tolls: Directors' Duties to Creditors after Bell.
- Authors
Hargovan, Anil; Harris, Jason
- Abstract
The article discusses the Australian High Court case of Westpac Banking Corporation v. Bell Group Ltd, regarding directors' obligations to consider creditors' interests in context to corporate insolvency. The case highlights two legal principles including the duty of directors to act in good faith and the application of judicial principle. It informs that to hold directors responsible for breach of fiduciary duties when they acted in good faith may hinder corporate rescue opportunities.
- Subjects
AUSTRALIA; AUSTRALIA. High Court; WESTPAC Banking Corp.; BELL Group Ltd.; CORPORATE directors; BANKRUPTCY; GOOD faith (Law); FIDUCIARY responsibility; ACTIONS &; defenses (Law)
- Publication
Sydney Law Review, 2013, Vol 35, Issue 2, p433
- ISSN
0082-0512
- Publication type
Article