Board members of a limited liability or a joint-stock company may be held liable for actions undertaken as part of their duties and this may involve i.a.:

  • financial liability towards the company
  • financial liability towards the company’s creditors
  • financial and penal fiscal liability on account of public-law liabilities such as taxes and social insurance contributions
  • criminal liability for offences and transgressions related to board members duties

Implementation of appropriate internal corporate procedures may largely reduce or eliminate board member liability.

We supports board members through:

  • identification and explanation of the existing and future risks with regard to board member liability
  • audit of corporate procedures
  • verification of authorizations and powers of individual employees and related corporate procedures
  • giving opinions on currently applicable corporate procedures and developing new procedures
  • handling court and administrative proceedings related to board member liability.