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Directors take note - always act in company's and creditors' best interests
  • Locke Lord LLP
  • United Kingdom
  • March 24 2011

In the recent case of Phillips Roberts (Liquidator of Onslow Ditching Ltd) v (1) Peter Frohlich (2) Godfrey Spanner 2011 EWHC 257 (Ch), the High Court was asked to decide whether the respondent directors had breached their fiduciary duties by continuing with a land development project when it was not in the best interests of the company or its creditors.

AIC guidance for investment company boards on managing custody risk
  • A&L Goodbody
  • United Kingdom
  • February 25 2011

On 4 February 2011, the Association of Investment Companies (AIC) published a guidance paper for boards of investment companies exploring the risks associated with third party custody of an investment company's assets.

Claiming compensation from a company’s own director
  • Rajah & Tann Asia
  • United Kingdom
  • December 28 2010

In Safeway Stores Ltd & Ors v Twigger & Ors 2010 EWHC 11 (Comm), the claimant company had been required to pay a statutory penalty for entering into price-fixing agreements with other companies.

Scottish ruling on equalisation may help employers with Scottish schemes
  • RPC
  • United Kingdom
  • July 12 2010

This case was heard in the Court of Session in Scotland and, like the previous English case of Independent Trustees Services Ltd v Knell, involved equalisation of normal retirement dates for men and women under the scheme rules.

The Companies Act 2006 and directors' duties
  • Gowling WLG
  • United Kingdom
  • July 6 2010

This is one of the most significant changes brought about by the Act in terms of a director's duties.

Executives carrying the can in Safeway Stores v Twigger?
  • Shepherd and Wedderburn LLP
  • United Kingdom
  • March 11 2010

A claim by Safeway Stores against eight former directors and employees for up to £16.5 million has been in the public eye of late.

A guide to health, safety and other prosecution risks - part 1. The blame game personal liability of directors and officers
  • Gowling WLG
  • United Kingdom
  • September 16 2009

Regulatory offences are usually strict liability.

How liable is a trustee?
  • Gowling WLG
  • United Kingdom
  • March 17 2009

The current unsettled times are prompting pension scheme trustees to review their own personal liability position.

Where disaster strikes, the blame game follows - AIM market
  • Wedlake Bell
  • United Kingdom
  • March 16 2009

The scale and pace of the economic meltdown have forced companies, investors and authorities alike to question much of the conventional wisdom in finance, but at least one constant remains: where disaster strikes, the blame game follows.

Practical guidance - directors’ duties
  • Cobbetts LLP
  • United Kingdom
  • January 30 2009

All of the provisions of the Companies Act 2006 relating to directors' duties are now effective.