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Corporate Claims Against Directors Or Officers Following The Company’S Unlawful Conduct, Wai Yee Wan
Corporate Claims Against Directors Or Officers Following The Company’S Unlawful Conduct, Wai Yee Wan
Research Collection Yong Pung How School Of Law
When a company enters into a transaction or undertakes an action that turns out to be either illegal or otherwise exposes the company to substantial fines or other pecuniary sanctions, the question arises as to whether the company may then recover its fines, expenses and other losses from its directors and employees, in the absence of the relevant legislation specifically providing for, or denying a claim by, the company. In these cases, the board may have made a specific decision to cause the company to enter into the unlawful conduct or may have failed to prevent the improper conduct from …
The Illegality Defence In Corporate Law Claims Against Directors And Officers, Wai Yee Wan
The Illegality Defence In Corporate Law Claims Against Directors And Officers, Wai Yee Wan
Research Collection Yong Pung How School Of Law
If a company incurs substantial fines or other pecuniary losses as a result of its unlawful conduct, can the company obtain an indemnity from its director/officer for having caused the company to incur such fines and losses? In particular, can the director/officer utilise the defence of illegality, notwithstanding that he has breached his duties owed to the company? The illegality defence, which raises the twin issues of the relationship between the unlawful act to the corporate claim and the attribution of the unlawful act to the company, has been the subject of detailed analysis recently in England, Singapore and Hong …