Tag: director liability
Directors are not liable to shareholders for a diminution in value...
In a recent hearing before the Gauteng High Court, Hlumisa Investment Holdings RF Ltd v Kirkinis 2019 (4) SA 569 (GP), the minority shareholders of a holding company attempted to use provisions of the Companies Act, No. 71 of 2008 ('the Act') to claim damages from the directors of the company for the reduction in value of their shares.
Can the public hold SOC directors to account?
The duty of directors to act in the best interest of the company has traditionally been to maximise profits for the company's shareholders. Over time, however, public opinion has dictated that a variety of other stakeholders' interests should also be recognised. So, can the directors of these companies be held personally liable by the South African public as ultimate stakeholders? And, what exactly are the duties of directors of State Owned Companies (SOC)?
Rising risk tide for directors!
Lee Astfalck | Director | Norton Rose Fulbright | lee.astfalck@nortonrosefulbright.com | www.nortonrosefulbright.com |
State capture, growing public discontent fuelled by social media at the activities...
When to quit as a director?
With the financial and governance issues that have affected the reputation and financial health of companies such as Eskom and Oakbay Resources and Energy...
Drawing the line on director liability?
Terrance Booysen – CEO Corporate Governance Framework Research Institute and Dr Ivor Blumenthal, discuss how the new Companies Act of 2008 requires that directors need to understand their roles and responsibilities and how it can affect their personal liability.
