In a decision that sparked widespread concern in Australia, the High Court of Australia has ruled that James Hardie's general counsel and company secretary owed the company a duty of care under the Australian Corporations Act: Shafron v Australian Securities and Investments Commission  HCA 18. Although the court’s findings are framed within the confines of the Australian Corporations Act, some of the issues canvassed in the decision are of broad interest and offer some best practice guidelines for New Zealand general counsel and company secretaries. For a discussion on the implications of this decision on this side of the Tasman see our earlier client update: The James Hardie decision: liability for general counsel and company secretaries.
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Best practice lessons for general counsel and company secretaries
- Bell Gully
- September 7 2012
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