Directors’ liabilities

Directors’ liabilities

Directors are under certain obligations by law to act in the best interests of their company and the company’s creditors.  Directors must adhere to a list of equitable and general duties.  A director who breaches their duties runs the risk of being disqualified as a director; being sued by either the company or the appointed insolvency practitioner; having to pay the company’s debts themselves, or face sanctions which could include fines or even imprisonment.