Yes, that is the directors’ legal duty. See eg https://www.aicd.com.au/content/dam/aicd/pdf/tools-resources/director-tools/board/directors-best-interests-duty-in-practice-web2.pdf
The directors have chosen to retain the CMI sale proceeds, and made various other decisions, that will now be scrutinised by the Federal Court against the backdrop of that duty. Personally I expect that case will be, for spectators like you and me, both entertaining and vindicating. I suggest you sit back and enjoy the ride.
Ann: Application received to wind up the Company, page-7
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