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When someone is appointed as a director of a company, they have a significant role to play, with various responsibilities to protect the business and its best interests.
A directors’ breach of duties can have a major impact on the business, so it is highly encouraged to seek legal advice from a professional to ensure matters are swiftly resolved.
Our team of experts specialise in various types of breach of directors’ duties scenarios, from those more straightforward to resolve to others more complex and require a higher level of legal expertise.
At Glanvilles, our team have a high level of expertise in assisting various clients from all types of industries with breach of director duties matters. Whether you are a shareholder, a director making a claim or defending a claim of breach of directors’ duties, our solicitors are on hand to provide the specialist advice and guidance you need to get the desired outcome.
When you work with the Glanvilles team, you can be confident in receiving pragmatic advice and practical guidance from a specialist team. We will take the time to carefully understand the circumstances of your case and the impact it has had on the business, and this allows us to provide a completely tailored service.
Under chapter 2, part 10 of the Companies Act 2006, a company director has seven duties. These duties include:
If the above duties are breached, the director can be held liable. Either civil actions or criminal sanctions could occur depending on the situation’s severity.
There can be considerable consequences for breaching your duties as a company director, which will apply most usually depends on the severity of the breach. These consequences could include:
Some examples of the remedies for breach of directors’ duties include:
While a breach of directors’ duties may impact shareholders, the director only owes their duties to the business itself. This means one or more shareholders can come together to make a claim against a director under the company’s name but can only claim for financial losses suffered by the company, not their own personal financial losses. This is known as a derivative claim.
If the breach of directors’ duties matter is more straightforward to resolve and the director is willing to co-operate, shareholders can take a less contentious approach to find a resolution. This could be using alternative dispute resolution (ADR) methods, such as private negotiation or mediation, where a remedy could be proposed and agreed on by all parties involved.
If the misconduct the director has carried out is more serious and could be considered a criminal offence, the shareholders can seek further assistance from the court.
When a breach of director duties case goes to court, criminal action could be taken against them could, which could include disqualification, a fine or imprisonment.
A company itself can take action against a director if the business has suffered damages, such as a loss of profit.
Our solicitors recognise the impact that a breach of director duties can have on a business’s future and strives to provide an outstanding service, with the business’s best interests at the centre of what we do.
When you choose to instruct the Glanvilles’ breach of directors’ duties team, you will receive an efficient service, where our solicitors will take the time to carefully listen to the circumstances of the case and provide advice that is specifically tailored.
With the assistance of the Glanvilles’ breach of director duties solicitors, you can be confident in receiving proficient advice and practical guidance from specialist solicitors. The team of experts have years of collective expertise in assisting all types of clients from various sectors.
When you use our breach of directors’ duties service, we promise: