Corporate and M&A

Directors Can’t Sleep Easily on Personal Liability Reforms

Contact: Tony Stumm; Carter Newell (Queensland, Australia)

Introduction

Much fanfare has been given to the Commonwealth's introduction of thePersonal Liability for Corporate Fault Reform Act 2012(Cth) and to its recently passed Queensland Government relativeDirectors' Liability Reform Amendment Act 2012(Cth) which also resembles similar legislation enacted or planned in other States. The big question is: Do these reforms go far enough?

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