Directors’ Liability: Get the Means to Defend Yourself!
The directors of any corporation have important duties and obligations which, in certain cases, can entail their personal liability. As in any area of human activity, allegations of fault can be made against directors, and the latter must defend themselves in order to show that the allegations are either baseless or that the director acted with due diligence.
Statutory liabilities are of a different nature. We touched on them very briefly in our article entitled “Duties and Obligations of Directors: a Brief Overview”. In this article, we will deal with them in more detail.