Hoffman LJ –
Opined
that common law duty of care owed by directors was accurately stated in s214 of
Insolvency Act 1986.
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
requires director to conduct himself as a
‘reasonably
diligent person having both –
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
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’
the general knowledge, skill and experience that that director has’
[ie
Test has both an objective and a subjective limb]
Test has both an objective and a subjective limb]
