In 1897 the House of Lords laid down decisively the principle that neither the directors nor shareholders were personally liable for the debts or the torts of a limited company. Since then, almost every year has seen a substantial erosion of that principle. The courts, particularly in the most recent cases, have shown themselves all too willing to penetrate what they term the "corporate veil", and there have been numerous cases in which directors have been held liable for the debts of small limited liability companies on the basis that credit was extended to them rather than the companies they represented. The most serious assault on the principles enunciated by the House of Lords in 1897 has been by successive Companies Acts, culminating in the Companies Act 1985. In addition, the Insolvancy Act 1986 imposes most onerous obligations on the directors of failed companies. All these situations and more are discussed in detail in this book by a specialist in company law. Every director needs to know exactly what his/her responsibilities are and this book aims to provide definitive advice.
It should prove a valuable reference to company secretaries and directors' professional advisers such as accountants as solicitors.
Sprache
Verlagsort
Verlagsgruppe
Zielgruppe
Für höhere Schule und Studium
Für Beruf und Forschung
Maße
Höhe: 230 mm
Breite: 150 mm
ISBN-13
978-0-00-383294-5 (9780003832945)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Klassifikation
The legal status of directors; de facto directors, shadow directors and group directors; directors' basic fiduciary duties; the judicial and statutory extension of directors' fiduciary duties; directors' duties of skill and care; the termination and discharge of directors' duties; directors' duties under the companies acts; the enforcement of directors' statutory duties; directors' duties and liabilities to shareholders; directors' duties and liabilities to a company's creditors; litigation concerning directors' duties; shareholders' remedies for unfair treatment and conclusions.
