director liability bankruptcy
The solution to making sure this bank fiasco never happens again? ?
I have a very simple solution:
No company, be it limited or otherwise, should be able to trade without FULL liability of its owners/managing directors.
If they screw up they lose it all in the same way as a sole trader is liable.
I think they would be far less reckless if they could not just walk away from it all if they screw up (especially if they did not have the umbrella of volountary bankruptcy to shield them).
Anyone agree, disagree or have a better idea??
All business’s should be responsible for their actions and there should be guide lines to follow for each and every transaction or it won’t work by law
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Personal Corporate Liability: A Guide for Planners, Litigators, and Creditors’ Counsel (Practising Law Institute’s Corporate and Securities Law Libr) $69.35 … |
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Director Liability in Insolvency … |
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How to proceed: taking the director and officer out of D&O insurance: the effect of the subprime credit crisis and corporate bankruptcies on D&O … LIABILITY): An article from: Risk & Insurance $9.95 This digital document is an article from Risk & Insurance, published by Axon Group on April 15, 2009. The length of the article is 1364 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: How to proceed: taking the “director” and “offi… |
