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Which case provides the minimum standards of care, skill and diligence

When is a company insolvent?

Directors Duties

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Directors Duties

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Answers

1
When is a company insolvent?
When they have a temporary cash flow crisis
When it is unable to pay all debts when they become due
When they have excess money to pay debts
A temporary lack of liquidity
2
Which case provides the minimum standards of care, skill and diligence
Cook v Deeks
Daniels v AWA Ltd
Peso Silver Mines v Cropper
ASIC v Vizard
3
Duty to prevent insolvent trading can be found in section?
s564G
s180
s182
s588G
4
Which is not a defence for trading when insolvent?
Reasonable grounds to suspect solvency
Absence from management
The director felt like taking a risk
Reasonable steps to prevent incurring the debt
5
What is the minimum percentage of votes required for a special resolution?
25%
50%
100%
75%
6
General law duties are owed by the following people:
Directors and Senior Executive Officers
Directors and Shadow Directors
Directors and Employees
Directors, General Manager, company secretary