Breakfast Briefing – What are your liabilities as a Director?

Members of the Chamber, Pinsent Masons, yesterday played host to a revealing breakfast seminar on the liabilities that company Directors face from its board, from its shareholders, and from independent auditors & creditors. Seasoned legal advisor in the arena of corporate governance and Partner of Pinsent Masons, Mr. Martin Webster, kindly conducted proceedings. He started by shedding light upon themes such as precedence of obligations, conflict of interests, and liability for breach of duties. Our attendees listened attentively whilst sipping on their morning coffees.

Mr. Webster was keen to emphasise the concept of Director responsibility, establishing the notion that whilst day-to-day decisions may be taken by a company board, by a group of executives, or through other corporate structures – when things go wrong, it will be he or she that took decisions in the company’s name that will be the first to be questioned. This concept, he said, was principle in understanding all other liabilities, and that should things go wrong, it was important to have evidence that the Director conducted themselves in accordance to legal regulations (boardroom minutes or other decision-making documentation are examples).

The talk was comprehensive yet accessible, and after being taken through the presentation, our attendees posed lively questions reflecting the corporate governance structures of their own respective companies. We thank Pinsent Masons, Mr. Webster, and our attendees for coming together and making this a wonderfully informative experience. A jovial networking breakfast followed, what a brilliant way to start the day!