> DIREC­TORS’ LI­A­BIL­ITY

Finweek English Edition - - Economic trends & analysis -

THE COM­PA­NIES BILL will ex­tend the per­sonal li­a­bil­ity of com­pany direc­tors. It will even in­clude a li­a­bil­ity to those who suf­fered losses due to false fi­nan­cial state­ments and/or an­nual re­ports. Reck­less man­age­ment be­comes a crim­i­nal of­fence pun­ish­able by a decade be­hind bars.

Direc­tors will also have to en­sure that the com­pany has enough cash re­serves to meet the new sol­vency and liq­uid­ity re­quire­ments.

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