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/
