Directors’ Duties & Insolvency - Navigating Risks & Avoiding Personal Liability

Introduction

Many businesses and companies of whatever size and nature are feeling the pressure of very turbulent economic times. The burden of steering companies through these choppy waters rests solely with the directors of the company.

In order to advise directors fully about the options available to them and make recommendations as to the course of action to take, it is imperative that solicitors and other professional advisors have a detailed understanding of the duties that directors of companies owe to the company and its stakeholders as the ramifications of breaching those duties could have far-reaching effects on a personal level for those directors.

This virtual classroom session is aimed at all those who deal regularly with businesses in a corporate context and who want to ensure that their clients get the best advice and are properly protected. In addition, it will be of considerable interest to those litigators, on the other side of the legal divide, who wish to pierce the corporate veil and pursue directors personally. Throughout the course the latest case law will be analysed, including recent and important Supreme Court decisions.

The emphasis will be on a practical approach concentrating on how this area could develop in your everyday practice. Both law firms and insolvency practitioner firms will benefit from attending.

What You Will Learn

This live and interactive course will cover the following:

• Types of directors - what is in a name
• Common law v statutory duties - the developing law
• Duties under the Companies Act 2006 (particularly section 172)
• Duties under the Insolvency Act 1986, including:
• Wrongful and misfeasant trading
• Fraudulent trading
• Misfeasance/breach of duty
• Unlawful Dividends and overdrawn loans
• Misuse of a company name
• Remedies and ramifications for all potential parties to include the risk of disqualification from other directorships. Reference will be made to the proposed new raft of enforcement reforms in this area, which the Insolvency Service is currently consulting upon

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.