Directors

So you’re a director? It’s an impressive-sounding title, bringing with it prestige and monetary reward. You may even have cracked open the champagne when you first became one. But being a director also carries with it certain responsibilities. These become particularly significant if your business runs into financial difficulties. What do you need to be aware of? By becoming a director, you agreed to act in the best interests of the company, its shareholders, its employees and its creditors. In times of financial difficulty, however, this ‘duty of care’ starts to shift. If there is a risk of insolvency, you [...]