BULAW5915 Corporate Law Assessment Part B

Part B (50 marks)

Listen to the podcast (or read the transcript) ‘The talented Mr Daly ’ which can be found at
https://www.abc.net.au/radionational/programs/backgroundbriefing/updated-the-talented-mr- daly/10282810

Answer the following questions.
1. Did Mr Daly breach any directors’ duties? If so, which ones and how? (10 marks)
2. Did any of the other directors breach their duties? If so, who, which duty and how? (10 marks)
3. Do you think the company was trading while insolvent? Give reasons.(10 marks)
4. If the company was trading while insolvent – are there any defences available to Mr Daly and/or other directors? If so, what are they? Give reasons.(10 marks)
5. Would the new ‘safe harbour’ defence assist the directors? If yes, how? If no, why not? (10 marks)