Directors’ Duties

It is essential that you understand and meet your legal and contractual duties as a director, partner or sole trader.

Running a business comes with wide-ranging legal duties and responsibilities. These duties will vary depending on whether you are:

• a director of a private or public limited company;
• a partner in a traditional partnership or limited liability partnership (LLP); or
• a sole trader.

Directors of a limited company

Directors of a limited company must understand the relationship between the common law and equitable duties and their general duties introduced by the Companies Act 2006.

We can give practical and proactive advice to help you understand the often-complex regulatory landscape within which you operate and what is expected of you. This understanding will minimise the risk of you or your business being fined and/or subjected to criminal prosecutions for breach or non-compliance with the regulations.

We provide bespoke training for directors tailored to their particular type of company/sector to help those directors avoid any breach of their duties and responsibilities.

Directors in a joint venture company

A director of a company involved in a joint venture will often also be a director, senior officer or employee of one of the companies participating in the joint venture itself.  This can give rise to conflicts of interest and loyalty. It is therefore especially important for a director of a joint venture company to understand the nature of his duties and the persons to whom those duties are owed.

Advising directors in the context of joint ventures is another area in which we have particular expertise.

Contact

For further information, please contact Keith Kennedy on 0161 684 6942 or make an enquiry.

We can also advise you on your rights, duties and obligations as a partner or sole trader. Get in touch if you want to know more.