Management Liability Claims Examples
- Directors sued by shareholders or creditors over allegedly misleading statements to the public as to the financial position of the company.
- Regulatory authorities investigating and prosecuting Directors over the same statements.
- Creditors and customers taking action against Directors for insolvent trading.
- Directors being sued/prosecuted for breaches by the Company of OH&S legislation.
- Directors being prosecuted for breaches of the Corporations Law.
- A breach of a Directors or Officers duties under Chapter 2D of the Corporations Act resulting in fines and penalties of up to AUD$200,000 and the requirement to pay compensation.
- Employees bring claims for wrongful termination of employment, demotion or refusal to promote.
- Company being sued by an Employee or prospective Employee for discrimination or harassment.
- Company being fined for breach of OH&S legislation.
- Fraudulent or dishonest acts committed by an Employee that result in direct financial loss to the Company such as theft by an Employee of property, securities or money.
- Retired Directors being sued for Wrongful Acts committed whilst a Director of the Company.
- Costs and expenses incurred by a Director or Officer in preparing for attending an Inquiry.