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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Enforcement of Directors' Duties in Britain and Germany: A Comparative Study with Particular Reference to Large Companies

The Enforcement of Directors' Duties in Britain and Germany: A Comparative Study with Particular Reference to Large Companies

Hirt, Hans-Christoph

Paperback

Business GeneralGeneral Law

ISBN10: 3039100580
ISBN13: 9783039100583
Publisher: Peter Lang Uk
Published: Apr 26 2004
Pages: 406
Weight: 1.19
Height: 0.83 Width: 6.00 Depth: 9.00
Language: English
The power to control litigation in the company's name is normally vested in the board of directors. This gives rise to a conflict of interest whenever some or all of the directors breach their duties. In such a situation, the board's decision whether or not to litigate is potentially tainted because the wrongdoers are part of the decision-making process. The board as a whole is therefore an unsuitable decision-making body and the following question arises: who should decide whether it is in the company's interest to initiate litigation against the alleged wrongdoers? There are a number of different persons and bodies in which the decision-making power could be vested. The British approach is the reversion of management power to the shareholders in general meeting and, in certain restricted situations, the availability of the derivative action brought by a shareholder on behalf of the company. Both mechanisms give rise to significant difficulties.

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