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The Forum > Article Comments > ASIC tests director safeguards > Comments

ASIC tests director safeguards : Comments

By Paul Redmond, published 6/3/2007

ASIC's civil suit against James Hardie directors does not extend liability.

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I agree that there is no new law here.
It also seems to me that, in failing to exercise their duty of care in relation to future claimants, the non-executive directors (or all directors for that matter) are in danger of being held personally responsible for the losses suffered by those claimants.
An action for damages will depend on that failure of duty of care.
Again, no new law but it does increase the pressure on directors.
Posted by Jolyon Sykes, Friday, 23 March 2007 9:22:28 PM
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