Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Friday, 28 August 2009
Liability of Non-executive Directors
They must take an active role in the company, otherwise they may be held to be in breach of duty.
When an executive director stole many millions and carried out transactions with connected parties, the company sued 2 non-executive directors.
It was held that they should have quizzed him on the deals, all the more so because they knew of his past fraudulent activities
When an executive director stole many millions and carried out transactions with connected parties, the company sued 2 non-executive directors.
It was held that they should have quizzed him on the deals, all the more so because they knew of his past fraudulent activities
Labels: fraud, non-executive directors
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