About Director’s duties and liabilities
A lot of director’s duties or obligations set out in legislation to handle severe complications that include heavy fines and award damages. Even the directors become personally liable for company debts. Our Insolvency Lawyers are committed to deliver the quality and professional assistance to our clients in the above matters. They can give you proper advice in facing litigation and subsequent legal action that includes director duties.
Our Lawyers will assist your companies, creditors and other entities, with complete legalities against director’s duties. Our director’s duties are owned to handle various individual groups and stakeholders within the company. Some of the duties owed by directors to their companies are:
- A duty of good faith and diligence.
- A duty to prevent insolvent trading.
- A duty to avoid conflicts of interest.
- A duty to exercise powers for proper purpose.
The insolvent is on the directors of a company to ensure that directors who allow a company has to trade whilst insolvent. For this, directors may not be liable if they follow all reasonable steps to prevent the company from incurring the debt.
Directors are personally responsible for companies taxation debts and obligations. Where these directors duties and liabilities are not met by a company then a director can become personally liable to a penalty.
A personal guarantee is a separate agreement signed between a director and a creditor. In this, the director of a company agrees to pay debt to the company.
These all services are best handled by the Corporate Lawyers Perth. They know how to deal with the complex company’s debts.
How we can help you?
The best way to meet the obligations of being a director is to understand the duties and legal obligations with proper legal advice. We help you in handling the complex situation and support you in the affairs and operations of the company. Our corporate lawyers Perth services will provide you the proper professional advice and assistance whenever you need.
In order to get a proper legal advice, get in touch with the Corporate Lawyers Perth.
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