Being a director of a company in Australia is an onerous position, particularly when economic times are tough. Managing creditors has never been harder than now, and there is often the temptation to, figuratively, “rob Peter, to pay Paul” when juggling cash flow. The vast majority of companies in this country are run by one […]
As a director of a company, you may only be personally liable for the company’s debts and claims to the extent that you may be in breach of your duties as a director. This blog post tells you about your liability as a director and how to avoid breaching your duties as a director.
There are over 2 million businesses in Australia and more than 700,000 of them are companies.
The vast majority of these are proprietary limited companies running small to medium enterprises.
Each of these companies is run by at least one director, but normally there are 2 or more directors of companies…