Case study question: Refer to suitable Corporations case law and Corporations Act 2001 and review bellow statement: What do the terms ‘Good faith’ and ‘best interest of the company’ mean as they are...

WHAT DO THE TERMS GOOD FAITH’ AND ‘BEST INTEREST OF THE COMPANY’ MEAN AS THEY ARE USED IN THE CORPORATIONS ACT 2001?
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Source 1:
Rodrigs, M 2018 ‘Company Directors Attending the “Mad Hatters Tea Party”: Directors Duties, Corporate Governance and Accountability’ Proceedings of Sydney International Business Research Conference, pp. 13-19
In this article, Dr Marcus Rodrigs of the Avondale College of Higher Education, the University of Newcastle discusses the corporate governance, duties and accountability of the directors. The article aims to provide a brief idea about the accountability and the concept of corporate governance. Various case law issues have been identified in the article. The methodology used in the article is based on the review of case law using the archival data. The research work in the article focuses mainly on the case law issues of corporate governance in Australia particularly accountability relating to the Corporations Case Law 2001. The article is useful to my research work as the concept of the article is based on the accountability of the directors based on the Corporations Case Law of 2001 in Australia.
Similarly, my research work is based on the duty of the directors focusing mainly on their fiduciary role. The main research gap identified in the article is the company directors are not fully aware of the situation and norm when it comes to the application of corporate governance codes. The limitation of the research work is that the case studies used are limited in scope and the availability of data on the topic was even scarce. The author indicates that further application and review of the corporate governance cases will assist the broads to concentrate on their efforts and in improving the environment of the organization or in which the directors operate. To conclude the author remarks that good governance equates to good business. The article will be an essential part of my research work as the topic is closely related to my research aims and objectives. The research work in the article will act as a guideline for my research work.
Source 2:
Langford, R 2020 ‘Cassimatis v Australian Securities and Investments Commission [2020] FCAFC 52-" Dystopian Accessorial Liability" or the End of" Stepping Stones" as We Know It?’ Company and Securities Law Journal, vol. 37, no. 5, pp. 1-11
The article by Rosemary Teele Langford is based on a single case study between the Cassimatis v Australian Securities and Investments Commission. The article is an analysis of the liability of the stepping-stone in Australia. The particular mode of liability in the country has attracted various criticisms and it is a focal point of many debates due to the corporate regulatory actions against the directors. The author, in this case, used the case studies of a lawsuit between the Cassimatis and the Australian securities to understand the concept of stepping stone liability. The research method used in this article is based on a series of related case studies to the main concept of the article. The article focuses on two major points, which are made by the majority judges in relation to the Corporations Act of 2001. The forts are the affirmation of the nature of duty for the directors in section 180 of the corporation’s activities.
The second is focused on the concentrate on the stepping stone liability is not a separate group of liability but an application of section 180. The article will be useful for my research topic as it suggests the concept of stepping stone liability is from the application of the directors’ duty as mentioned in the Corporations Case Law 2001. The limitation of the article is that it uses only one case study for the analysis of the stepping stone liability concept. The author of the article suggests that there is a scope of analysis of various other case studies on the topic to have a more comprehensive analysis of the concept. The article will not form the basis of my research work but will be a useful guide for understanding the director’s responsibilities and duties in relation to the Corporations Act 2001.
Source 3:
Barnes, L 2019 ‘Corporate Governance and Company Directors: Are they Alice in Wonderland?’ Frontiers in Education Technology, vol. 3, no. 1, pp. 1-11
In this article Lisa Barnes of the Avondale College, Avondale...