Liability of economic professionals
The liability of economic professionals is often subject to discussion, whether on a civil, criminal or deontological level.
We have a very thorough knowledge of the applicable laws and regulations in this area, partly due to the academic background of our employees combined with extensive experience in concrete cases, both against and in defense of the economic professional.
Director’s and Officer’s Liability (D&O)
The responsibilities and ditto (personal) liabilities of the founders and directors of a company are difficult to underestimate. This means that the founder of a company can be personally liable for the debts of a company going bankrupt within three years of its incorporation. The same applies, for instance, to a director who fails to file annual accounts with the NBB on time.
I think you understood correctly: carrying out a function as founder and/or director does not only give you rights, but it also comes with substantial obligations and liabilities – and this in the field of civil law, criminal law and regulations. In other words, the exercise of a directorship is not without risks.
We map out these obligations, risks and liabilities for you in a comprehensive and concise manner. Simultaneously, we inform you in what way you can limit and/or insure these liabilities.
If something still goes wrong, we will be happy to assist you in court and/or at the competent supervisory authority.
Take a look at some of our specific products/services on liability, or contact us for more specific questions.