Directors' Liability and Indemnification: A Global Guide

Directors' liability is an increasing concern in boardrooms. It was once the case that directors' conduct came under very little scrutiny, but following in particular two decades of high-profile corporate failures in Europe and the United States there is now massively increased regulation of the conduct of company officers. This has been achieved through a combination of new official penalties and the increased private rights of shareholders - either individually or collectively - and companies themselves to bring civil claims. With such heightened exposure has come increased awareness among directors of indemnification rights and insurance protection. Governments have recognised that directors should not be deterred from taking positions of responsibility and should therefore be able to call on indemnification and directors' and officers' insurance to provide some measure of comfort. The extent to which they may do so and the liability exposures they face vary considerably around the world. There are many assumptions and misconceptions regarding the true nature of the exposures faced by directors and officers in any given jurisdiction, partly due to the pace of change. This comprehensive title features contributions by leading experts from 24 countries, providing in just one volume the important features of liability and protection available in each jurisdiction and an overview of the respective risks of doing business in different territories. The only work of its kind, this new book will be a powerful tool in assisting directors, officers and in-house counsel of national and international companies, and the private practice lawyers advising them, to make well-informed judgements about the risks they are taking.