Tracing Director Liability Framework During Borderline Insolvency and Corporate Failure in India

In the years of the financial and sovereign debt crisis in Greece, many viable businesses that are facing financial difficulties are led to liquidation rather than timely restructuring, with very few entrepreneurs having a second chance. This corporate failure faced by Greek companies in recent years may have been caused by either endogenous or exogenous factors or a combination of these two. In this paper we investigate the factors (economic, social and political) that will help to facilitate entrepreneurs' access to a second and third opportunity, taking also into account socially vulnerable groups such as disabled people and women entrepreneurs. Moreover, we try to find the characteristics that would encourage honest bankrupt entrepreneurs to a second business venture and the sectors where a second chance may have increased chances of sustainability in Greece. The aim of our research is to lead Greece to higher levels of self-employment, reduction in unemployment, and exit from the crisis.

Download Full-text

Corporate Foreign Corrupt Practices and Director Liability

Alberta Law Review ◽

10.29173/alr49 ◽

2014 ◽

Vol 51 (3) ◽

pp. 555

Author(s):

Paul Blyschak

Keyword(s):

Risk Mitigation ◽

Civil Liability ◽

Case Law ◽

Corporate Law ◽

Mitigation Strategies ◽

Public Officials ◽

Risk Mitigation Strategies ◽

American Case ◽

Director Liability

This article examines the various forms of potential liability faced by directors in their capacity as such in connection with corrupt practices engaged in by the corporations they serve. Although generally little discussed to date, Canadian directors do face potential civil liability associated with contraventions of the Corruption of Foreign Public Officials Act that are particular to their status as directors of a corporation. This article thus highlights this particular area of corporate law by reviewing both Canadian jurisprudence and American case law to decipher what lessons Canadian directors can learn in the absence of Canadian precedent similarly on point. Several key cases are highlighted and various risk mitigation strategies available to Canadian directors to guard against these potential liabilities are also discussed.

Download Full-text