Download or read book Corporate Directors Liability to Creditors written by Helen Lesley Anderson and published by . This book was released on 2006 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the legal and policy issues that impact on the duty and role of the company director in relation to the company's debts. Reform directions are also provided.

Download or read book Liability of Corporate Officers and Directors written by William E. Knepper and published by MICHIE. This book was released on 1978 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses how directors and officers can limit and protect against personal liability for corporate acts. Conflict of interest, class actions, liability of third persons, SEC regulatory actions, indemnification and contribution, and other relevant issues are addressed in the work.

Download or read book Directors Duties in the Context of Insolvency written by Julia Honds and published by GRIN Verlag. This book was released on 2007-12 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2006 in the subject Law - Comparative Legal Systems, Comparative Law, grade: A, Victoria University of Wellington, course: LLM Research Paper, Master Abschlussarbeit, 59 entries in the bibliography, language: English, abstract: This essay deals with directors' duties, focusing on the duties that specially arise in the context of a company becoming insolvent. The relevant duties are those under sections 131, 135 and 136 of the Companies Act 1993. The drafting of these insolvent trading provisions in New Zealand has been criticised in the legal literature. This research paper considers not only this criticism but also deals with the more general debate about the value of insolvent trading provisions in general. Although the current drafting of the relevant provisions in New Zealand is not without minor flaws, the need for creditor protection requires the maintenance of insolvent trading provisions in general. Besides that, this essay looks at the remedies for breaches of directors' duties. The most important provision in this context is s 301 Companies Act 1993. Pursuant to this provision both the liquidator and individual creditors can enforce directors' civil liability. However, the possibilities of individual creditors to obtain payment directly to themselves are restricted. The final part of this essay considers the question whether a separate duty directly owed to individual creditors should be introduced. Although such a duty seems to have some benefits, it would not be commensurate with leading principles and ideas of Insolvency Law and should therefore not be introduced. It is the concern of this research paper to point out the many issues that arise in context of directors' duties and insolvency law and to show that it is important to strike an appropriate balance between the intended creditor protection and the entrepreneurial freedom of company directors.

Download or read book Directors Personal Liability for Corporate Fault written by Helen Anderson and published by Kluwer Law International B.V.. This book was released on 2008-10-22 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The corporation’s ability to avoid the costs of risks that materialize as a result of its pursuit of profits is a departure from the market model. It can easily be seen as an evasion of the obligations that go with being the un-coercing, freely-acting and choosing ‘invisible hand.’ Dramatic corporate collapses and major human and economic disasters due to bad corporate conduct have strengthened the common sense view that, if the corporate directors and officers have made the deliberate act their own in some way, they may be held responsible on the same basis that liberal law holds all individuals responsible for their intended actions in the non-corporate settings. Accordingly, recent decades have seen an increasing number of statutory interventions worldwide that impose direct responsibilities on directors and other corporate officers in respect of a wide range of regulatory regimes: environmental regulation, occupational health and safety and other employment standards, human rights statutes, transportation regimes, consumer and competition laws, protections for creditors and workers against insolvent trading, and the like. Legitimacy crises have pushed legislators to enlarge the number of responsibilities, to increase the amounts of the fines that may be levied and to make it clear that, in some cases, prison sentences will be imposed. This collection of essays describes and analyzes the legal regimes governing directors’ liability for corporate fault and default across eleven important trading jurisdictions. It asks: Are the reform provisions, especially director duties of ‘due diligence,’ sharply enough aimed to attain the goal of corporate accountability? Will it be easy or difficult for defendants to establish that due diligence was exercised? Is it possible that more reliance on self-policing may lead to less documenting and reporting of wrongs and dangers? What impact may schemes of greater self-monitoring have on State regulation? In what ways might corporations react to these demands that they become guardians of the public weal? The authors – each an authority in his or her respective jurisdiction – recognize that the reforms are a reaction to the political problems created by the ill fit of the corporation with the economic and political value systems that we purport to hold dear. As they survey the ways that vibrant economies can frame laws to influence the conduct of directors and companies, they invite further exploration into the political, economic, practical, and evolutionary factors that may explain the convergence and divergence of both statute law and judicial doctrines and the desirability or inevitability of this deeply significant trend.

Download or read book Company Directors Liability and Creditor Protection written by Andrew Keay and published by Taylor & Francis. This book was released on 2023-06-23 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides an analytical exposition of the law concerning directors’ liability for the losses sustained by their companies’ creditors, when the directors’ companies are in financial distress or become insolvent. It is a detailed one-stop resource for obtaining a good understanding of the law which has developed from legislation and case law. In particular, there is a detailed consideration of what needs to be proved, what defences there are, and what might be the issues of concern for all parties. A doctrinal method is adopted and there is extensive analysis of the relevant legislation and case law. Rather than merely referring to cases to support propositions, the discussion considers many of the cases in context and in depth and their relevance to the aim of the book. The book also endeavours to provide views, in a practical way, on aspects of the law and it identifies problems and how they may be addressed. Of interest to legal practitioners and insolvency practitioners alike, in addition the book will be useful to directors, government officials and academics.

Download or read book International Liability of Corporate Directors 2007 II written by Christian Campbell and published by Lulu.com. This book was released on 2007-10 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International Liability of Corporate Directors", Volume II, 2007 edition, with nearly 750 pages in two volumes, examines the law applicable to company directors and the means available to minimize the risks of claims against them. The publication surveys 20 jurisdictions in Australasia, Europe, and North America. Purchase Volume I to complete the set. Purchase of print version includes CD version and 24/7 online access. A 10% discount applies to a subscription for next year's update. A 25% discount applies to a subscription for three years of updates. Discounts are applied after purchase by rebate from publisher.

Download or read book Company Directors Responsibilities to Creditors written by Andrew Keay and published by Routledge. This book was released on 2007-03-12 with total page 726 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and addresses the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for the before mentioned. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested. Company directors have certain responsibilities to creditors of their companies. In particular, they should avoid fraudulent and wrongful trading and consider, as part of their duties, the interests of creditors when their companies might be, or are, in financial difficulty. The work is precipitated by the lack of coherence in the consideration of wrongful trading and the recent delivery of important cases on fraudulent trading. Also, this timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and seeks to address the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for wrongful trading and failing to consider the interests of creditors. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared, and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested.

Download or read book Directors Duties and Liabilities written by Paul J. Omar and published by Routledge. This book was released on 2018-10-24 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2000. The law relating to directors’ duties has fundamental implications across the business environment and yet few areas of business law have received so little detailed examination. This text provides fresh and incisive insights to the rules applying in ten major economic jurisdictions within Europe, with respect to directors’ legal obligations and liabilities. Written by the foremost figures in the field, each contribution outlines the statutory provisions that affect the work of company directors in each jurisdiction, including general legislation and specific laws covering the status of incorporated bodies. Fully illustrated with case-law examples the book provides a guide to the range of measures which national courts may provide for participants in corporate life seeking remedies for unsatisfactory governance of companies. It also features guidance on the specific bases for criminal and civil liabilities and examples of the range of penalties to which directors might be subject. The result is a work of unprecedented detail which will be welcomed by practitioners in the corporate sector, academics and researchers alike.

Download or read book International Liability of Corporate Directors 2007 I written by Christian Campbell and published by Lulu.com. This book was released on 2007-10-29 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International Liability of Corporate Directors", Volume I, 2007 edition, with nearly 750 pages in two volumes, examines the law applicable to company directors and the means available to minimize the risks of claims against them. The publication surveys 20 jurisdictions in Australasia, Europe, and North America. Purchase Volume II to complete the set. Purchase of print version includes CD version and 24/7 online access. A 10% discount applies to a subscription for next year's update. A 25% discount applies to a subscription for three years of updates. Discounts are applied after purchase by rebate from publisher.

Download or read book The Expressive Function of Directors Duties to Creditors written by Jonathan C. Lipson and published by . This book was released on 2017 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article offers an explanation of the doctrine of directors' duties to creditors. Courts frequently say - but rarely hold - that corporate directors owe duties to or for the benefit of corporate creditors when the corporation is in distress. These cases are puzzling for at least two reasons.First, they link fiduciary duty to priority in right of payment, effectively treating creditors as if they were shareholders, at least for certain purposes. But this ignores the fact that priority is a complex and volatile concept. Moreover, contract and other rights at law usually protect creditors, even (especially) when a firm is distressed. It is thus not surprising that courts do not in fact want to treat directors as fiduciaries for creditors, except in extreme cases. But this leaves us with the second puzzle: If directors are rarely treated as fiduciaries for creditors, why have the Delaware courts bothered to say so much about this, especially in their recent opinions?This Article explores these two puzzles, and argues that these cases are best understood as examples of expressive judging, exhortations to good behavior not necessarily tethered to meaningful instrumental consequences. It identifies four expressive themes in these decisions on, among other things, director discretion, the boundaries of acceptable conduct towards creditors, the role of contract, and the educative function of courts. The Article concludes by noting several doctrinal gaps created by some of the recent case law, and suggests ways that the better expressive aspirations of the Delaware opinions can fill these gaps in fair and efficient ways.

Download or read book Company Directors Liability and Creditor Protection written by Andrew Keay and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides an analytical exposition of the law concerning directors' liability for the losses sustained by their companies' creditors, when the directors' companies are in financial distress or become insolvent. It is a detailed one-stop resource for obtaining a good understanding of the law which has developed from legislation and case law. In particular, there is a detailed consideration of what needs to be proved, what defences there are, and what might be the issues of concern for all parties. A doctrinal method is adopted and there is extensive analysis of the relevant legislation and case law. Rather than merely referring to cases to support propositions, the discussion considers many of the cases in context and in depth and their relevance to the aim of the book. The book also endeavours to provide views, in a practical way, on aspects of the law and it identifies problems and how they may be addressed. Of interest to legal practitioners and insolvency practitioners alike, in addition the book will be useful to directors, government officials and academics.

Download or read book Liability of Corporate Directors written by Dennis Campbell and published by Lloyd's of London Press Limited. This book was released on 1993 with total page 882 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comparative analysis of the law relating to liabilities of corporate directors in major jurisdictions around the world, including Europe, the United States and the Bahamas. The first section of the book introduces the subject of directors' liability and provides a historical perspective. This is followed by a detailed country by country survey which covers: the distinction between directors and officers and the consequences of that distinction; liabilities for contracts for executive directors; the distinction between outside and inside directors and the liabilities and duties that arise in the management of a company; defences available; indemnification; insurance cover; other methods of protection available; limitation on directors' liability and liability in third party actions.

Download or read book Directors Liability A Worldwide Review written by Alexander Loos and published by Kluwer Law International B.V.. This book was released on 2016-09-01 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: This acclaimed reference book for international business lawyers first appeared in 2006, with a second edition in 2010. Now in its third edition, and once again published in conjunction with the International Bar Association, this comparative study of a crucial issue in corporate law gives practitioners a powerful and decisive tool for ascertaining and comparing the law affecting directors’ liability in today’s globalizing economies. Covering nearly fifty jurisdictions worldwide (including eight not previously covered), the third edition affords senior lawyers in major firms the opportunity to provide concise, detailed, and easy-to-understand summaries on his or her home law on directors’ liability. Authors whose research appeared in earlier editions have updated their chapters, and the case law summarized and analysed now reflects published cases through the end of March 2016. The contributions describe the relevant law in force in each particular jurisdiction, along with an insightful discussion of trends and future prospects. For each of the different jurisdictions the authors detail and explain such factors as the following: - national legal theories of director liabilities; - recent cases dealing with directors’ liability; - corporate governance; and - indemnification and insurance. Where applicable, coverage also includes the legal implications of jurisdictional variations in such matters as judicial review, lawyer directorship, directors’ reliance on outside professionals, and the effect of the European Action Plan. References have been thoroughly updated throughout, and include many new online sources. This publication will be of enormous value to legal practitioners, whether in private practice or in the legal department of a globally active company, as a comprehensive and easy means of access to the law of foreign jurisdictions on directors’ liability.

Download or read book Corporate Governance and Directors Liabilities written by Klaus J. Hopt and published by Walter de Gruyter. This book was released on 2012-08-28 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Directors Officers D O Liability written by Simon Deakin and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-02-19 with total page 1072 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years several cases concerning the liability of directors and officers have courted controversy. Arguments raised in such discussions oscillate between two extremes: on the one hand, the need for governing bodies to give a space to entrepreneurial discretion and on the other hand to ensure the protection of investors in and creditors of a company from the consequences of disadvantageous decisions by those bodies. In light of the geographical dispersal of the above stakeholders, the study offers a comparative insight into the liability of directors and officers in 10 key European jurisdictions (in particular, Austria, Czech Republic, Germany, Italy, the Netherlands, Norway, Poland, Spain and Switzerland) and 4 non-European jurisdictions (namely Brazil, Israel, Turkey and the United States). Amongst other things it investigates existing company law principles on the topic and examines their interaction with tort law and other fields with a view to suggesting principles for better stakeholder protection. National reports are complemented by an economic analysis and insurance, conflict of laws and comparative reports. The study also benefits from case study analyses.

Download or read book Director Liability in Agricultural Cooperatives written by Douglas Fee and published by . This book was released on 1984 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Directors Duties to Creditors written by Jonathan C. Lipson and published by . This book was released on 2007 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Article questions the widely held view that the fiduciary duties that corporate directors ordinarily owe to or for the benefit of shareholders should shift to creditors when the corporation is in financial distress. This view suffers from two important flaws. First, it mistakenly assumes a strong connection between duty and priority in right of payment. Thus, the thinking goes, as the corporation approaches insolvency, creditors should displace shareholders as the residual claimants, to whom duties should run. While this may make sense when a corporation liquidates, it ignores the fact that priority is a distributional doctrine, and therefore functions very differently than does duty. The second, and more important, mistake is that linking priority and duty causes us to ignore the deeper normative concerns that should animate duty in the corporate context. These normative concerns usually respond to power imbalances expressed as disparities of volition (voluntariness), cognition (information), and exit (access to secondary markets).On this view, it is apparent that not all creditors of the distressed corporation are equal. Creditors who lack volition, cognition, and exit - and thus should benefit from directorial duties - might include tort creditors, terminated at-will employees, taxing authorities and certain trade creditors. Other creditors - chiefly banks and bondholders - neither need nor deserve directorial duties. They typically benefit from high levels of volition, cognition, and exit, as expressed in both the heavily negotiated contracts that govern their relationships with the corporate debtor and their access to well-established secondary markets. This Article contains a proposal for adjusting directors' duties accordingly.