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RG27
“I wouldn't know for certain, but should the directors be accused of and found to be involved in a criminal act would not any directors liability insurance be invalid as far as an insurance company is concerned?”
Yes this is my understanding and for this reason it is preferable that the case made against the former directors is negligence rather than fraud.
rfarfa
you can write a template in swahili - as long as you give the correct email address to send it to, someone will edit and improve the template into better english and repost it for others to use
So true RG27 but I've received very little response with 2 attempts to try and gainer interest in carrying out a senseman's commendable approach to bringing pressure to bare in this regard!
We need a well crafted technically correct copy and paste template, note something from myself calling a spade a spade and the bunch of misspelt "BANKERS" need locking up.
If a director commits a tort, such as deceit (with intention to defraud) or negligent misstatement (a statement made negligently) in the course of company business, the director may be personally liable. If the director involves themselves with a company's wrongful activity which amounts to a tort, the director may be jointly liable.
If they are not covered by an insurance claim and are found to be personally liable, then I would hope that they jointly and severally have £18 million between them.
'redress' is legal action and I suspect maybe financed through litigation finance aka Burford type company. Who would be the defendant(s)? Would it be each individual director or an insurance company? Has a crime been committed and if so does this strengthen our case against them?
I wouldn't know for certain, but should the directors be accused of and found to be involved in a criminal act would not any directors liability insurance be invalid as far as an insurance company is concerned?
If so we could only hope that they have acted irresponsibly and without due care to their responsibilities as company directors.
Or am I wrong in the assumption?
'redress' is legal action and I suspect maybe financed through litigation finance aka Burford type company. Who would be the defendant(s)? Would it be each individual director or an insurance company? Has a crime been committed and if so does this strengthen our case against them?
"The Fund believes that an investigation should determine grounds for redress and recoverability of this amount."
So do I, go for it asap!