Changing hats – Directors’ duties and section 187 of the Corporations Act
Andrew Windybank03/02/2022
This article discusses the limited circumstances in which a director can consider the interests of the broader corporate group and still satisfy their fiduciary duty to act in good faith in the best interests of the company. It also comments on the challenges this presents for directors in the context of an incorporated joint venture and the importance of understanding this risk to avoid personal liability.
Easing Execution of Documents – Electronic and Split Signatures for Companies
Andrew Windybank11/11/2021
Recent temporary amendments to the Corporations Act 2001 (Cth) allow companies to execute documents (including deeds) electronically and also for split execution under section 127 of the Corporations Act 2001 (Cth). These amendments are temporary but will hopefully form the basis of permanent reform in the future.
Corporate Update: Online meetings and electronic document execution
Andrew Windybank07/05/2020
In response to the change in business practices due to COVID-19, on Tuesday 5 May 2020 the Federal Treasurer implemented temporary amendments to the requirements under the Corporations Act 2001 (Cth) regulating meetings and execution of company documents.
Be careful, directors! Observations on the duty of care and diligence in 2020
Andrew Windybank25/03/2020
We are entering a particularly “high risk period” for private company directors due to the uncertainty related to impacts of COVID-19. In this article, Andrew Windybank, Corporate Principal, provides some timely observations on the duty of care and diligence and the importance of company directors satisfying this duty to avoid potentially onerous civil penalties.
COVID-19 Temporary Government Relief from Insolvent Trading
Andrew Windybank23/03/2020
COVID-19 has already had a material impact on small to medium business owners. Amid growing concerns that insolvency rates will spike as many businesses struggle to weather the storm, we thought it sensible to alert our clients to a few key elements arising out of the Government’s announcement on Sunday and referred to as the ‘second economic stimulus package’. The measures are designed to alleviate concerns by providing temporary relief for financially stressed businesses, including by way of reprieve from personal liability for directors facing questions concerning solvency.
