Pair were shadow directors but didn’t breach duties, says court

LEGAL UPDATE: Two men were shadow directors of an insolvent property development company and so did owe the company fiduciary duties but their behaviour did not breach those duties, the High Court in England has ruled.

“The judge said that it was clear that de facto directors had the same duties as regular directors and that the extent of shadow directors’ fiduciary duties will depend on the circumstances of each case.”

— Read on www.out-law.com/en/articles/2018/may/shadow-directors-restructuring-duties-unbreached/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.