Directors' and officers' liability
Managing directors of a legal entity, usually a private limited company or public limited company, naturally try to fulfil their duties and responsibilities as best they can. As a director and major shareholder, you usually do not get any feedback, and even within a corporate governance structure and a supervisory board, it is not always clear what scope your powers offer. When is it necessary to make adjustments, or to discuss the course set?
You can't make an omelette without breaking eggs. The Supreme Court, as our highest judicial body, has ruled that, in principle, directors and officers must be guided by the do's instead of the don'ts - otherwise there will not be any governance.
However, not everyone always believes that what directors do is good governance. Stakeholders within the company/legal entity, creditors, the tax authorities or, in the case of a suspension of payment or bankruptcy, an administrator/insolvency practitioner, can hold the (managing) director or member of the supervisory board liable for policies or decisions taken. In these cases, we can provide expert, professional and discreet assistance. We help directors who are faced with a liability claim, or - prevention is better than cure - with the testing of intended policies. If you believe there has been mismanagement, we can provide advice or, if necessary, assist in proceedings.
And especially when a company faces heavy seas, we like to help it decide on its course at the earliest possible stage, even if it needs to sail close to the wind.