Re D’Jan [1993]

Hoffman LJ –
Opined
that common law duty of care owed by directors was accurately stated in s214 of
Insolvency Act 1986.
This
requires director to conduct himself as a
‘reasonably
diligent person having both –
(a)
the general knowledge, skill and experience that may reasonably be expected of
a person carrying out the same functions as are carried out by that director in
relation to the company, and
(b)
the general knowledge, skill and experience that that director has’
[ie
Test has both an objective and a subjective limb]