Directors' duties and liabilities are up for review

Directors' duties and liabilities are up for review
The Law Commission says current regulations may discourage directors from taking legitimate business risks. (Image: Getty)
Rebecca Howard
The Law Commission will undertake a review of directors’ duties and liabilities at the request of Justice Minister Paul Goldsmith. “The law relating to directors’ duties and liabilities has been causing concern for some time and a review is timely,” said commissioner Geof Shirtcliffe.There have been a number of calls for reform. In a case involving Mainzeal, for example, the supreme court endorsed the appeal court's view that a review was needed.In August last year, the supreme court ordered the directors of Mai...

More Law & Regulation

Two more Smiths City stores close as liquidation sale winds up, massive discounts
Retail

Two more Smiths City stores close as liquidation sale winds up, massive discounts

Embattled retailer Smiths City has closed two more stores as its fire sale draws winds up this weekend.Administrators Colin Gower and Diana Matchett of BDO Christchurch on Friday said staff numbers will significantly reduce from next week, with remaining staff to assist with deli...

Staff reporters 12 Sep 2025
Construction suicide costs at $1.3 billion
Infrastructure

Construction suicide costs at $1.3 billion

A survey found that almost one in five workers reported suicidal thoughts.

Chido Machingura 12 Sep 2025
Net assets down, losses widen in Macquarie Group NZ's FY
Finance

Net assets down, losses widen in Macquarie Group NZ's FY

Financial group books wider full-year loss as net assets slip.

Staff reporters 12 Sep 2025
Airwork on the block to repay $145m of bank debt
Law & Regulation

Airwork on the block to repay $145m of bank debt

Airwork has an outstanding intercompany loan of $35.83m, owes trade creditors $219,000.

Denise McNabb 11 Sep 2025