Development West Coast (DWC) is hosting Duncan Cotterill for a free seminar on Directors Duties in Greymouth. As a director of a registered company, you have obligations to your company and shareholders, and responsibilities under the Companies Act 1993. Many of these duties seem straightforward but are often misunderstood and bad governance habits can lead to directors being involved in protracted claims and even held personally liable for breaches of duties owed.

Recent cases have shown an increased willingness of liquidators and aggrieved shareholders and creditors to investigate director conduct and pursue claims against them. The increased scrutiny means that an awareness of what the duties involved is more important than ever, as is proper record keeping and good independent advice. There is no such thing as a silent director and the Courts will not allow lack of knowledge or reliance on management to excuse breaches.

Duncan Cotterill will briefly explore what the duties are and some of their key elements and look at some of the practical issues which have come out of recent cases including the Court of Appeal decision in the Mainzeal case, which has important implications for all directors facing a situation of potential insolvency.