Directors' duties: the schizoid company

Dabner, Justin (1988) Directors' duties: the schizoid company. Company and Securities Law Journal, 6 (2). pp. 105-115.

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The classic dictum of Mason J. in Walker v. Wimborne, decided in 1975, that directors may owe a duty to creditors (where an insolvency situation was involved and where directors were shuffling assets between one company and another) has had some remarkable repercussions. The most recent is a statement by Lord Templeman in the House of Lords that directors owe duties not only to existing creditors but to future creditors. In this article Justin Dabner, a lecturer at the University of Tasmania, examines the implications of the widening of the duties of directors to creditors in the context of traditional company law principles. Mr Dabner notes that there have been expressions of concern at just where these developments will take us in the context of these traditions but suggests that these concerns may have been ill conceived.

Item ID: 33032
Item Type: Article (Research - C1)
ISSN: 0729-2775
Date Deposited: 30 Nov 2017 23:51
FoR Codes: 18 LAW AND LEGAL STUDIES > 1801 Law > 180125 Taxation Law @ 100%
SEO Codes: 97 EXPANDING KNOWLEDGE > 970118 Expanding Knowledge in Law and Legal Studies @ 100%
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