Personal Liability as a Director Jan 24
A short, CPD-accredited training course focused on Personal Liability as a Director in England & Wales
Introduction
Chapter Objectives summary
Summary of chapter
Company is a separate and distinct entity
Veil of incorporation
Company is usually liable
Power of Agents
What can the Government Insolvency service do?
Remember your legal responsibilities
What does unfit conduct mean?
Disqualifications on the rise
Public scrutiny intensifying
Lesson Objectives summary
Summary of chapter
Directors owe duties to the Company
The seven principles
A breach has consequences
What consequences might a breach bring?
Duties owed to a Company
Understand your own powers
Minority shareholders count too
Minority shareholders retain rights
Personal guarantees
Why are personal guarantees asked for?
Remember conflicts may arise
Shareholder agreements
What are shareholders agreements?
Misrepresentation
What is misrepresentation?
The risk of active misrepresentation
Some practical examples
Lesson Objectives summary
Summary of chapter
Do these risks apply if I am a Charity Trustee?
Accountability in law
New powers
And new enforcement powers
Different formations may have different rules
CIOs and other structures
Lesson Objectives summary
Summary of chapter
What does trading when insolvent mean?
What is insolvency?
What happens if...?
The key is to act PROMPTLY
Seek advice
Bear in mind
Lesson Objectives summary
Summary of chapter
Can Directors insure against their risk?
Limits to what insurance can cover
Companies Act provisions
What indemnities can be held
What is Director and Officers Insurance?
Key points with D&O insurance
The basics still remain
Helping you become a better Director, Trustee and board member