Should Not Directors be Responsible to Creditors in a Company?

Released on by Ernest Muchu Toh
preview-18

  • Should Not Directors be Responsible to Creditors in a Company? Book Detail

  • Author : Ernest Muchu Toh
  • Release Date : 2014-02
  • Publisher : LAP Lambert Academic Publishing
  • Genre :
  • Pages : 152
  • ISBN 13 : 9783846589205
  • File Size : 62,62 MB
DOWNLOAD BOOK

Should Not Directors be Responsible to Creditors in a Company? by Ernest Muchu Toh PDF Summary

Book Description: Companies, society and individuals' dreams have been shattered as a result of directors' reckless acts. In an effort, to avoid such situations, there is total failure to add another fundamental aspect which is "directors' responsibilities to creditors of the company" they direct. Many a judge, lawyers and practitioners have least thought of this as a serious factor. They are blinded by the principles that directors are directly responsible to their employer company and that their acts are protected by the company. Even in those circumstances where the veil of incorporation is lifted, to expose directors for "ultra vires" acts in the company, nothing or little is done to involve the creditors' interest who provide the capital. Creditors' interest have been relegated to insolvency. This book sets to illustrate to investors, businessmen, judges, lawyers and practitioners, policymakers and students that for companies/establishments to stay healthy in business, managing directors must be responsible to creditors whose interests need to be protected like those of other stakeholders in the company. South Africa and OHADA region are used for illustration.

Disclaimer: www.yourbookbest.com does not own Should Not Directors be Responsible to Creditors in a Company? books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.