WP 1 Director's liability

Introduction

Director’s liability is a theme that arises in many insolvency proceeding whereby the behaviour of the director in the twilight zone is assessed in hindsight, and where proceedings against the director may end up in severe liability and exposure to cover losses with one’s personal assets. Directors require a practical guidance (grounded in law) when rescuing businesses and when accounting for the interest of stakeholders where viability of a business is at stake. As opposed to liquidation insolvency proceedings, the opening of workouts or preventive proceedings is often based on the right and not an obligation of a director to open legal proceedings and thus the grounds of director’s liability are less clear cut than when dealing with pure insolvency situations. The current trend in legislations based on a ban to trade whenever the business is insolvent or to act with due diligence of a professional or to rely on a business judgement rules (to mention few tests) judged ex-post requires re-thinking and modulations so that fair and appropriate rules and practices may be applied in evaluating director’s performance in the twilight zone.

Working Party 1 aims at providing practical reports in the field of director’s liability to assist law and policy makers as well as courts and academics to develop solutions and best practices in this field.


Chairs

Michal Barlowski
Prof. Joeri Vananroye


Current Projects

  • Study on the director's duties in COVID-19 times
    Reporters: Mr Michal Barlowski and Prof. Joeri Vananroye

Members part of

WP 01 Director's liability

Michal Barlowski Co-Chair/Ordinary Conferee
Gert-Jan Boon Academic Conferee
Reinhard Bork Academic Conferee
Pavel Boulatov Ordinary Conferee
Ieva Broka Ordinary Conferee
Kathlene Burke Ordinary Conferee
Bart De Moor Ordinary Conferee
Juana Pulgar Ezquerra Academic Conferee
Zoltan Fabok Ordinary Conferee
Juan Ferré Ordinary Conferee
Arthur Galea Salomone Ordinary Conferee
Rita Gismondi Ordinary Conferee
Bartosz Groele Ordinary Conferee
Aurelio Gurrea-Martinez Academic Conferee
Frank Heemann Ordinary Conferee
Ferdinand Hengst Ordinary Conferee
Joanna Kruczalak-Jankowska Academic Conferee
Line Langkjaer Academic Conferee
Irene Dr. Lynch Fannon Ordinary Conferee
Myriam Mailly Academic Conferee
Renato Mangano Academic Conferee
Miguel Martínez Muñoz Academic Conferee
Irit Mevorach Academic Conferee
Rimvydas Norkus Judicial Conferee
Luciano Panzani Academic Conferee
Gabriella Pataki Ordinary Conferee
David Richards Judicial Conferee
Patrizia Riva Academic Conferee
Omar Salah Ordinary Conferee
Ignacio Sancho Judicial Conferee
Siv Sandvik Ordinary Conferee
Jessica Schmidt Academic Conferee
Catarina Serra Judicial Conferee
Petr Sprinz Ordinary Conferee
Lorenzo Stanghellini Academic Conferee
Joeri Vananroye Co-Chair/Academic Conferee
Reinout Vriesendorp Ordinary Conferee
Oleg Zaitsev Academic Conferee