Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Monday, 1 June 2009
Defence costs for company director
A company can lend money to a director to fund the defence of civil, criminal or regulatory proceedings
If the director is exonerated from wrong doing at the end of those proceedings, the company may also waive repayment of the loan and indemnify the director in respect of those costs
If he is not, then the loan must be repaid immediately if the proceedings were civil or criminal, but this is not obligatory if the proceedings were regulatory or brought by a third party
If the director is exonerated from wrong doing at the end of those proceedings, the company may also waive repayment of the loan and indemnify the director in respect of those costs
If he is not, then the loan must be repaid immediately if the proceedings were civil or criminal, but this is not obligatory if the proceedings were regulatory or brought by a third party
Labels: civil, company director loan, criminal, proceedings, regulatory
Subscribe to Posts [Atom]
Archives
- October 2008
- November 2008
- December 2008
- January 2009
- February 2009
- March 2009
- April 2009
- May 2009
- June 2009
- July 2009
- August 2009
- September 2009
- October 2009
- November 2009
- December 2009
- January 2010
- March 2010
- April 2010
