Law Commons^™

Voluntary Administration: Patterns Of Corporate Decline, James Routledge, David Morrison

James Routledge

Australian companies in financial distress prefer to select the option of voluntary administration (VA) offered by Pt 5.3A of the Corporations Act 2001 (Cth). A board’s choice to enter a company into a VA is premised upon the idea that it is preferable to take early action when the business is facing solvency difficulty. Such early action allows for the possibility of rescuing the business. This article examines whether directors cause businesses to trade in extenuating financial circumstances for too long a period before entering the company into a VA thereby shortening the chances of a successful business rescue. The …

Directors' Disqualification After The Insolvency Act 2000, 2001, Adrian Walters

Adrian J Walters

No abstract provided.

Bare Undertakings In Directors' Disqualification Proceedings, Adrian Walters

Adrian J Walters

No abstract provided.

Directors' Duties: The Impact Of The Company Directors Disqualification Act, Adrian Walters

Adrian J Walters

No abstract provided.

Liability Of Directors Of Chapter 11 Debtors In Possession: 'Don't Look Back - Something May Be Gaining On You', Daniel Bogart

Daniel B. Bogart

This article addresses a series of important questions involving the fiduciary obligations and personal liability of bankruptcy trustees and directors of debtors in possession. The article begins by noting the uncertainty of lawyers representing directors of chapter 11 debtors. These lawyers must advise individual directors on their possible liability for decision making post petition. The article continues with a review of basic corporate governance of companies preceding and following the filing of a chapter 11 petition.

The article focuses on the content of the fiduciary obligations of care and loyalty of directors of the bankrupt companies. Supreme Court opinions indicate …