Directors' duties and shareholder litigation in the wake of the financial crisis

Author(s)

• Loughrey, Joan

Bibliographic Information

Directors' duties and shareholder litigation in the wake of the financial crisis

edited by J. Loughrey

（Corporations, globalisation and the law）

Edward Elgar, c2013

• : hbk

Note

Includes bibliographical references and index

Description and Table of Contents

Description

This book takes us back to the financial crisis and asks: should the directors of the financial institutions that caused the crisis be held responsible to their investors? Loughrey's and her contributors' analysis of that question and the suggestions to implement their proposals are insightful and timely. This is a must-read book for those of us that are still trying to determine how to avoid the next financial crisis.' - Randall Thomas, Vanderbilt Law School, USThe financial crisis revealed failings at board level at many financial institutions. But despite calls for bank boards to be held to account, there has been a remarkable paucity of litigation against bank directors for breach of their duties. This book assesses whether the law relating to directors duties and shareholder litigation has contributed to this, taking into account the changes to both that were introduced by the Companies Act 2006. With contributions from leading academics and practitioners, the book examines the director's duty of care and skill, the s.172 duty, reporting obligations under s.417 of the Companies Act 2006, and shareholder litigation including the derivative action and just and equitable winding up. It concludes that neither the common law nor the statutory duties and derivative action under the Companies Act 2006 function effectively to hold directors to account and analyses why this is so. This detailed book will appeal to academics in company law and corporate governance as well as commercial law practitioners particularly those who specialize in company litigation. Contributors include: F. Akinbami, A. Campbell, R. Hollington, A. Keay, R. Tomasic, C. Villiers

Table of Contents

Contents: Introduction Joan Loughrey 1. The Director's Duty of Care and Skill and the Financial Crisis Joan Loughrey 2. The Duty to Promote the Success of the Company: Is it Fit for Purpose in a Post-financial Crisis World? Andrew Keay 3. Narrative Reporting and Enlightened Shareholder Value Under the Companies Act 2006 Charlotte Villiers 4. Think Again: How Good Leaders Can Avoid Bad Decisions Andrew Campbell 5. Shareholder Activism and Litigation Against UK Banks - the Limits of Company Law and the Desperate Resort to Human Rights Claims? Roman Tomasic and Folarin Akinbami 6. Recent Cases on the Winding-up of Hedge Funds on Treasure Islands Robin Hollington 7. An Assessment of the Present State of Statutory Derivative Proceedings Andrew Keay and Joan Loughrey 8. Directors' Duties and Shareholder Litigation: The Practical Perspective Joan Loughrey Conclusion Joan Loughrey Index

by "Nielsen BookData"

• NCID: BB11335883
• ISBN:
  • 9780857939654
• Country Code: uk
• Title Language Code: eng
• Text Language Code: eng
• Place of Publication: Cheltenham
• Pages/Volumes: vii, 261 p.
• Size: 25 cm
• Classification:
  • DC23 : 346.41066
• Subject Headings:
  • LCSH : Directors of corporations -- Legal status, laws, etc. -- Great Britain
  • LCSH : Stockholders -- Legal status, laws, etc. -- Great Britain
  • LCSH : Corporations -- Finance -- Law and legislation -- Great Britain
• Parent Bibliography ID:
  • BA76223811