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Australian Securities and Investments Commission v Hellicar & Ors [2012] HCA 17

ON THIS DAY in 2012, the High Court of Australia delivered Australian Securities and Investments Commission v Hellicar & Ors [2012] HCA 17 (3 May 2012).

The non-executive directors of James Hardie Industries Limited named in these proceedings were held to have breached their duties as directors by approving the release of a misleading announcement to the Australian Stock Exchange regarding the funds to be made available for the payment of asbestos related injury and death claims following a restructure sending the company offshore.

http://www.austlii.edu.au/au/cases/cth/HCA/2012/17.html

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