Australia’s corporate regulator is seeking leave to appeal a NSW Supreme Court decision that cleared three former Regional Express Holdings (Rex) non-executive directors of breaching their directors’ duties. The dispute concerns the airline’s February 2023 profit forecast and what its directors knew, and should have done, as Rex’s financial outlook deteriorated in the months that followed.
The court’s June 2026 decision distinguished the company’s continuous-disclosure failure from the personal liability of the three non-executive directors. It found Rex breached its disclosure obligations…