| Commentary

67 Duties to creditors

| Commentary

67 Duties to creditors

The courts have, over the last few years, been gradually adopting the philosophy that the directors’ duties may extend beyond the interests of the company, and may in some instances encompass consideration of the interests of creditors. There would appear to be two catalysts for this change of attitude. The first was a series of cases in Australia and New Zealand which suggested that, although directors owed their duties to the company, they might be required to consider the interests of creditors on the facts of a particular case, particularly where the company was insolvent, or

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