The law relating to the legal responsibilities and duties of directors is becomingly increasingly complex.
Company directors have legal duties to act in the interest of shareholders, creditors and other stakeholders. Directors in breach of these duties may find themselves facing civil claims for personal liability or criminal prosecution. The duties of directors differ depending upon whether they are an executive director, a non- executive director, a de jure director, a de facto director or a shadow director.
Directors are under an obligation to comply with duties set out in the Companies Act 2006 which include a duty to promote the success of the company, to exercise reasonable care, skill and diligence and to exercise independent judgment.
Our team are able to advise you about all of your duties as a company director. We are often called upon to advise when a company is in financial difficulties and when a liquidator or administrator is claiming that directors have been guilty of wrongful trading/ fraudulent trading or other breaches of insolvency legislation.