The Companies Act 2014 has recently been amended, requiring for the first time in statute that directors of companies, unable, or likely to be unable, to pay their debts must have regard to the interests of creditors.
In this episode, Suzanne Kearney, Of Counsel in the Corporate and M&A Department in Arthur Cox, and Tom Courtney, Partner, discuss Directors' Duties, what these duties are and what they mean for companies and their directors. They will also discuss the most recent development in this area – the new statutory duty to have regard to the interests of the company's creditors.
Arthur Cox LLP · Company Law: Back to Basics – Directors' Duties
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.