The activities of company directors, especially when things go wrong, often receive a lot of media attention. In Australia much of the law concerning the duties of directors in running a business arise under the Corporations Act. Increasingly it is becoming clear that the role of a director is not for the faint hearted and anyone who accepts this role in any size of company needs to understand their duties and obligations under the law.
Corporate governance relates to a body of principles which are concerned with the relations between the shareholders of the company, the directors and the senior management. Corporate governance at its core relates to the inherent conflict between the interests of company directors and management on the one hand and shareholders on the other. It provides a variety of measures which seek to make company directors and management accountable to shareholders for their activities through the creation of ‘fiduciary duties’.
To find out more about directors duties and corporate governance you should speak to a commercial lawyer at Matthews Folbigg Lawyers in Parramatta. We can provide legal advice on all aspects of your business including resolution of conflicts between directors and shareholders.
Phillip Brophy – firstname.lastname@example.org or 9635 7966