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Dictionary for "director liability"

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Dictionary 8

Dictionary

Directors’ liability and officers’ liability

In the Netherlands directors’ liability refers to the wider liability of a director of a legal person towards creditors or other parties involved in the legal person. In the Dutch…
Dictionary

Discharge from liability

For directors of a Dutch company it is important to be discharged by the company (or the authorised body within the legal person) from liability. Discharge is given in regards to…
Dictionary

Collective liability

In the Netherlands collective liability (or: collective responsibilities) often refers to the joint and several liability of directors for the joint (mis)management of the company.…
Dictionary

Requirement to keep records

…keep records is also very important in the context of directors’ and officers’ liability in bankruptcy. Under Sections 2:138 and 2:248 of the Civil Code, non-compliance with the…
Dictionary

private limited company ( Ltd.)

…transferable but are registered on name. Besides, the liability of the shareholders of the company is limited to the value of their shares (stocks). Dutch private limited company…
Dictionary

Improper administration

Improper administration it the mismanagement by a director of a company. In case of improper administration (or improper performance) of a Dutch company, the director can be held…
Dictionary

Dividend

…these regulations are disregarded when dividend is payed, directors could be held liable under directors’ liability rules.
Dictionary

Actual policymaker

…shareholder or employee) who acts as if he was a formal director of the company runs the risk to be held personally liable for debts of the company in the same way directors can…