Company directors can be personally liable if they breach their duties as directors to their company. We can advise directors about directors' duties and help directors to properly minute all meetings to demonstrate that the board of directors have discharged its duties.
Directors owe seven main duties to their company which are:
- To act within the powers of the company
- To promote the success of company
- To exercise independent judgment
- To avoid conflicts of interest
- Not to accept benefits from third parties
- To declare any interest in proposed transactions or arrangements with the company
- To exercise reasonable care, skill and diligence.
It is important that directors understand and properly discharge their duties. If directors do not, then they risk being found personally responsible for their actions. For example, directors may have to re-pay money to or compensate the company, be fined, end up with a criminal record or be banned from being a company director. We help directors understand their duties to the company.
How can we help?
We advise in relation to:
- Directors dealings with the company
- What interests directors should declare
- Whether or not a director has acted properly
- When directors require shareholder approval
- How to expel a director
- The scope of a director’s powers and how to limit or increase directors' powers
- What to do if you suspect the company may be or may become insolvent
- How to properly wind up a company
- Director disqualification proceedings
We also provide:
- Directors’ Service Contracts
- Board Minutes and Resolutions to show that the directors have discharged their duties
- Companies House Forms (and help on how to complete them)
- Company statutory books
Can’t see your issue? Contact us anyway it’s likely we can help.
