Question
Abdullah approaches Jane and explains to her the situation regarding relief from liability. Jane tells Abdullah to relax because ASIC are not going to prosecute.
Abdullah approaches Jane and explains to her the situation regarding relief from liability. Jane tells Abdullah to relax because ASIC are not going to prosecute. Abdullah points out that the duty to act in good faith and in the best interests of the company is also a general law duty and Hardtech Ltd has the right to take action against the directors for breaching it. Jane says that Hardtech Ltd is controlled by the board of directors and there is no chance the board will resolve to sue the directors for breaching a general law duty. Abdullah understands but has some doubts.
Advise Abdullah
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