Journal article

Cassimatis v Australian Securities and Investments Commission [2020] FCAFC 52 - "Dystopian Accessorial Liability" or the End of "Stepping Stones" as We Know It?

Rosemary Langford

COMPANY AND SECURITIES LAW JOURNAL | Thomson Reuters | Published : 2020


This note focuses on two significant point made by the majority judges in relation to s 180 of the Corporations Act 2001. The first is affirmation of the public nature of the duty of directors in s 180 of the Corporations Act 2001. The second is the point that stepping stones is not in fact a separate ground of liability. Rather, it is a straightforward application of s 180 (or another duty) to the fact of each particular case.

University of Melbourne Researchers


Funding Acknowledgements

Associate Professor, Melbourne Law School, University of Melbourne. This research was funded fully by the Australian Government through the Australian Research Council.