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By Erin O’Connor, Rebecca Farrell
A review of a number of director and executive indemnities indicates that the officers of those companies would suffer the same fate as Nick Whitlam should they choose to bring an action against a third party to recover damages for an injury suffered as a result of actions taken while an officer of the company. A review of the standard terms of two leading director and officer insurance policies also indicates that the policy is unlikely to fill this gap.
By Stephen Walmsley, Sarré Cousens
The press has been flooded with commentary on the role of institutional investors in the replacement of Tabcorp’s CEO and Chairman – and yet this is just one example of the power of the shareholder.