The Court of Session (Inner House) has considered the scope of a non-executive director's fiduciary duties in Commonwealth Oil and Gas Co. Ltd. v Baxter [2009] CSIH 75. This is an important decision because there are few recent cases considering non-executive directors' duties. Their Lordships held that the non-executive director owed the same duties to the company as its executive directors. The decision will be of interest in England and other jurisdictions, not least because their Lordships discussed a broader conceptual question: are fiduciary duties proscriptive or prescriptive?
The Court of Session (Inner House) has considered the scope of a non-executive director's fiduciary duties in Commonwealth Oil and Gas Co. Ltd. v Baxter [2009] CSIH 75. This is an important decision because there are few recent cases considering non-executive directors' duties. Their Lordships held that the non-executive director owed the same duties to the company as its executive directors. The decision will be of interest in England and other jurisdictions, not least because their Lordships discussed a broader conceptual question: are fiduciary duties proscriptive or prescriptive?
Spread The Love, Share Our Article
Subscribe to:
Post Comments (Atom)
Popular entries
-
Incident: Sick Kids physician loses portable hard-drive with unencrypted personal health informationA physician from Sick Kids hospital who decided to travel with a portable hard-drive containing unencrypted health information on 3,300 pat...
-
The Information and Privacy Commissioner of Alberta released a very interesting order today, considering whether the right to freedom of exp...
-
The Securities and Exchange Commission has voted unanimously to introduce amendments designed to strengthen the regulatory framework govern...
-
USA: Restoring American Financial Stability - discussion draft published by Senate Banking CommitteeThe United States Senate Committee on Banking, Housing and Urban Affairs has published a discussion draft titled Restoring American Financ...
-
In case you were wondering, you really shouldn't expect that anything you post on your MySpace page will be kept private. If you are in ...
-
According to an article in USA Today, Facebook is following in the footsteps of Google and others by using targeted ads. I'm not at all ...
-
I was interviewed some time ago for a Globe & Mail article on workplace surveillance, which appeared yesterday. The piece discusses keys...
-
Like many people I suspect, I was concerned to read the recent BBC report about glass ceilings which, the report said, means that "to...
-
Earlier this year, in Hawkes v Cuddy [2009] EWCA Civ 261 , the Court of Appeal declined to follow the position, adopted in Re Guidezone [2...
-
In Gregson v HAE Trustees Ltd & Ors [2008] EWHC 1006 (Ch) a so-called "dog-leg" claim was brought against the directors of a ...
Comments
Post a comment on: UK: Scotland: fiduciary duties and the non-executive director