Advice for sincerely deluded directors and others
As Flanders and Swann once sang (or at least Flanders once said), ‘always be sincere – whether you mean it or not’.
But things are even more complicated nowadays in the world of corporate law and directors’ duties, and this recent case shows that it is not enough to be sincere even if you mean it if you are actually deluded in thinking you are being honest. Or something like that.
You can check out any time you like but…scary case about directors’ duties to avoid conflicts of interest
Scary case about directors’ duties to avoid conflicts of interest even after they leave
Pre-packs – administrators’ duties
March 2018 IP nicks phoenix fee: If you know you have a potential conflict of interest you should try all the harder not to be adversely influenced by it. When marking team squash matches I tend as a result to give more decisions in favour of the opposition. Playing a cricket match I once in my stint as umpire gave a hat-trick (nearly) of LBW decisions against my teammates. The last of them was a close combat instructor for the marines who gave me the 1,000 yard stare in the bar for the rest of the evening. I now try to avoid umpiring whenever I can...
Duties of care to joint venture partners
Nov 2013 This is the first case in which the Court of Appeal has ruled on the potential duties owed by a director of a joint venture company directly to one of the contractual joint venture parties (one which is not a shareholder in the joint venture company)...
Is a director or employee thinking of leaving your business to go into competition?
Feb 2012 This recent High Court case clarified the position where a director or senior employee without restrictive covenants in his contract is planning to leave his company and to set up or go to work for a competing business...