Friday, 17 August 2012

Australia: judgment in Westpac Banking Corp v Bell Group

Judgment was given today by the Supreme Court of Western Australia (Court of Appeal) in one of its most keenly anticipated judgments of recent years: Westpac Banking Corporation v The Bell Group Ltd. (in liq) [No 3] [2012] WASCA 157, available here or here (pdf). A summary of the very lengthy judgment, in which the trial judge's decision (reported at [2008] WASC 239) was largely upheld, is available here (pdf). Amongst other things (of which there are many), the court considered directors' duties, their fiduciary character and their application in the context of insolvency and a corporate group.

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