Directors' duties to creditors in Australia after spies v the Queen

McConvill, James 2002, Directors' duties to creditors in Australia after spies v the Queen, Company and securities law journal, vol. 20, no. 1, pp. 4-24.

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Title Directors' duties to creditors in Australia after spies v the Queen
Author(s) McConvill, James
Journal name Company and securities law journal
Volume number 20
Issue number 1
Start page 4
End page 24
Publisher Lawbook Co.
Place of publication Rozelle, NSW
Publication date 2002
ISSN 0729-2775
Summary In August 2000, the High Court handed down its decision in Spies v The Queen . According to most commentators, the decision ended a "quiet revolution" which had been underway since Walker v Wimborne by rejecting the suggestion that directors owe an independent duty to creditors. In this article, the writer responds to this commentary in two ways. First, by contending that the High Court's comments in Spies concerning directors' duties to creditors were merely obiter, thereby leaving open the possibility that an independent duty to creditors will be confirmed in a subsequent case. Secondly, by suggesting that if the commentary to date is correct, then the Spies decision has minimal impact in terms of creditor protection as directors' duties under the Corporations Act 2001 already provide sufficient protection for creditors.
Language eng
Field of Research 180109 Corporations and Associations Law
HERDC Research category C1 Refereed article in a scholarly journal
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Document type: Journal Article
Collections: Faculty of Business and Law
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