Directors’ Duties and Shareholder Litigation in the Wake of the Financial Crisis (Corporations, Globalisation and the Law series) - Hardcover

Loughrey, Joan

Hardcover

ISBN 10: 0857939653 ISBN 13: 9780857939654

Publisher: Edward Elgar Publishing, 2013

Synopsis

'This book takes us back to the financial crisis and asks: should the directors of the financial institutions that caused the crisis be held responsible to their investors? Loughrey's and her contributors' analysis of that question and the suggestions to implement their proposals are insightful and timely. This is a must-read book for those of us that are still trying to determine how to avoid the next financial crisis.'
- Randall Thomas, Vanderbilt Law School, US

The financial crisis revealed failings at board level at many financial institutions. But despite calls for bank boards to be held to account, there has been a remarkable paucity of litigation against bank directors for breach of their duties. This book assesses whether the law relating to directors duties and shareholder litigation has contributed to this, taking into account the changes to both that were introduced by the Companies Act 2006.

With contributions from leading academics and practitioners, the book examines the director's duty of care and skill, the s.172 duty, reporting obligations under s.417 of the Companies Act 2006, and shareholder litigation including the derivative action and just and equitable winding up. It concludes that neither the common law nor the statutory duties and derivative action under the Companies Act 2006 function effectively to hold directors to account and analyses why this is so.

This detailed book will appeal to academics in company law and corporate governance as well as commercial law practitioners particularly those who specialize in company litigation.

Contributors include: F. Akinbami, A. Campbell, R. Hollington, A. Keay, R. Tomasic, C. Villiers

About this title

About the Author:

Edited by Joan Loughrey, Director, Centre for Business Law and Practice, School of Law, University of Leeds, UK

Review:

`This book takes us back to the financial crisis and asks: should the directors of the financial institutions that caused the crisis be held responsible to their investors? Loughrey's and her contributors' analysis of that question and the suggestions to implement their proposals are insightful and timely. This is a must-read book for those of us who are still trying to determine how to avoid the next financial crisis.' -- Randall Thomas, Vanderbilt Law School, US

About this edition

• Publisher: Edward Elgar Publishing
• Publication date: 2013
• ISBN 10: 0857939653
• ISBN 13: 9780857939654
• Binding: Hardcover
• Number of pages: 272