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Business Recovery & Insolvency
DIRECTORS RESPONSIBILITIES
The office of director carries with it a number of duties and
responsibilities:
1) General fiduciary duties
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to act bona fide in the interests
of the company |
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the act in good faith |
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to avoid conflicts of interest i.e.
personal and business interests |
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not to make any personal gain/secret
profits |
2) Common law duties of skill and care
As a director you must carry out your duties
with such skill and care as may be reasonably expected from
a person in that position or from a person with specific knowledge
and experience.
When a company is insolvent the directors fiduciary duties and
common law duties are subject to an overriding duty to the interests
of the company’s creditors.
Breach of duty can result in an action by the company against
the director for damages to compensate the company for the loss
that has been suffered.
For more information or to arrange
your initial FREE consultation please telephone Mark Botwood
on (01902) 393007.
Please select an area you are interested
in from the list below.
To find out more, please explore
the links. |
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