Deal Talk EP3: The Star Decision - Lessons for Directors (Part 1)
From Herbert Smith Freehills Kramer Podcasts by Herbert Smith Freehills Kramer Podcasts
May 26, 2026 · 20 min
About this episode
The episode discusses the Federal Court's decision regarding ASIC's allegations and its implications for directors.
HSF Kramer Chair and Senior Partner Rebecca Maslen-Stannage and Head Office Advisory Partner Carolyn Pugsley, unpack the Federal Court's landmark decision and draw out practical takeaways for NEDs in this two-part podcast series. In this episode, they discuss the facts and basis of ASIC's allegations, as well as the key outcomes and contributing management and board dynamics (drawing contrasts to other seminal directors' duties cases such as the Centro decision). In episode two, the discussion turns to the broader governance lessons from the Star decision — including Justice Lee's pointed observations on AI in the boardroom, the growing impracticality of modern board papers, and the role of general counsel and company secretaries. This is a must-listen for NEDS navigating the evolving duties landscape in Australia.
People in this episode
Host: Rebecca Maslen-Stannage
Guest: Carolyn Pugsley
Topics covered
- directors' duties
- governance
- legal decisions
- board dynamics
- NEDs
- Australia
Keywords
- Star decision
- ASIC
- directors' duties
- governance lessons
- NEDs
- boardroom dynamics
- Centro case
Mentioned in this episode
Organizations: ASIC, Centro, Star
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