66 Developing duties

F: DIRECTORS’ DUTIES OTHER THAN TO THE COMPANY

66 Developing duties

Traditionally, the courts took the view that a company directors’ duty to act in good faith in the interests of the company was just that, and so they were under no duty to consider the interests of anyone else, not the company’s creditors (present or potential), not the company’s employees and not even individual shareholders1. In recent years, the courts appeared to have changed their views in relation to the company’s creditors, aided and abetted by the intervention of statute. Statute again has intervened in relation to