Warning to foreign directors of Australian companies

A recent case in the Federal Court highlights to Australian companies, particularly those with overseas-based directors, and foreign directors of Australian companies, the expectations placed on directors of Australian companies under the Corporations Act, particularly in relation to the due diligence process for disclosure documents.  This follows a recent ASIC report in which it warned companies on cutting corners in IPOs (and other capital raising processes) in relation to due diligence processes.  Click here to read full article.