Directors' remuneration: articles of association, Duomatic and misfeasance - Ball (PV Solar Solutions Ltd) v Hughes & Another [ChD] 13.12.17 (Unreported)


Fri, 19 Jan 2018

Company law - Directors - Fiduciary duties - Misfeasance - Duomatic principle - Whether directors entitled to withdraw remuneration. HELD that two directors of a private company who had caused it to adopt a scheme to insulate their remuneration from tax and gone on to apply three credit entries against their respective directors’ loan accounts with the company had, in applying those credits, breached their fiduciary duties and been guilty of misfeasance for the purposes of section 212 of the Insolvency Act 1986.




Category: Company Law »  Articles of association; Directors; England and Wales. Keyword(s): Fiduciary duties. Area(s) of law: Employment; Corporate and Commercial Law.
Source: [2017] EWHC 3228 (Ch)

 

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