Misfeasance claims against directors of companies in liquidation
By Nicholas Gordon
This article summarises the key points made by Popplewell J, in the recent case of Madoff Securities International Ltd (in liquidation) v Raven and Others (2013) in relation to statutory and common law defences to misfeasance claims against directors. His judgment provided a concise review of the law and also resolved an issue regarding actionable loss.
In many misfeasance/breach-of-duty cases against directors/former directors of a company now in liquidation, the facts evidence that breach or breaches are relatively clear cut and uncontroversial. This draws into focus the question of whether the director has any common law or statutory defence available to a claim against him/her for restitution to the company. This is important to officer holders and directors alike as it has an impact upon the prospects of successfully pursuing/defending a claim and any settlement negotiations…
If you are registered and logged in to the site, click on the link below to read the rest of the Mills & Reeve briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
The trend for unbundling legal work is advancing through the law firm ranks but there is still resistance in some quarters - namely in-house. We asked why