Park v The Queen

In *Park v The Queen*, the High Court of Australia considered an appeal by the applicant, Mr Park, against his conviction for offences under the *Corporations Act 2001* (Cth). The dispute concerned the interpretation of provisions relating to the disclosure of information by directors of a company.

The central legal issue before the High Court was whether the applicant had contravened section 180(1) of the *Corporations Act 2001* (Cth) by failing to exercise his powers and discharge his duties with the degree of care and diligence required of a reasonable person in his position. This involved determining the scope of the duty of care and diligence owed by a director and the circumstances under which a breach of that duty would be established.

The Court reasoned that the duty of care and diligence imposed by section 180(1) requires directors to take reasonable steps to be informed about the company's affairs and to exercise their powers and discharge their duties with a reasonable degree of competence. It was held that the applicant's failure to adequately inform himself about the financial position of the company and to take appropriate steps to address the risks involved constituted a breach of this duty. The Court applied established principles of corporate law regarding the standard of conduct expected of directors, emphasising the importance of active engagement and informed decision-making.

The High Court dismissed the appeal, upholding the applicant's conviction.