Company directors, both executive and non-executive, owe many duties.
- Fiduciary duties to the company under the Companies Act 2006
- Duties to employees under the Health & Safety at Work Act 1974
- Where a company is insolvent, or on the verge of insolvency, a duty to act in the best interests of the creditors of the company
Breaching these duties can have serious consequences, leading to:-
- Claims against a director by the company (or shareholders in a derivative action)
- Criminal proceedings brought by the Health & Safety Executive and/or other regulatory bodies
- Personal liability to creditors and disqualification proceedings
It is therefore very important that directors are fully aware of the duties they owe and can satisfy themselves that the company’s policies and articles of association are drafted in clear terms.
Blaser Mills’ corporate team can review company documentation, provide directors’ briefing notes, and advise on directors’ and officers’ insurance cover.
In addition, when things go wrong, our experienced criminal defence and dispute-resolution colleagues are highly effective in helping clients defend criminal or disqualification proceedings.