The liability of founders and directors of companies is a significantly underestimated responsibility. For instance, a company founder can be personally held liable if the company goes bankrupt within three years of its establishment.
A director not only has rights but also a considerable number of obligations. The liabilities associated with these duties often apply both internally (towards the company) and externally (towards third parties), potentially leading to various legal proceedings.
Failure to timely submit financial statements can also be used to invoke director liability. Suppliers may use this to bypass the company and hold you personally accountable.
In contemporary times, directors of companies are increasingly being held accountable by other stakeholders of the business.
Banks and Insurance
We assist you in all aspects of this process with a solid legal knowledge. Particularly, when it comes to director liabilities in banks or insurance companies, we have extensive expertise. For clarification, we refer to one of our articles on the matter.
In close collaboration with our criminal law specialists, we can support you in all aspects of the process.
Contact us so that we can assess:
– how to protect your personal assets as much as possible
– what rights and obligations you have
– which laws and legal precedents may work in your favor