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insolvency and corporate law

power of instruction and liability of shareholders

A company's articles of association may provide that the management board must act in accordance with the instructions of another body of the company, for example the general meeting of shareholders. The management board is obliged to follow those instructions unless they are contrary to the interests of the company...

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the liability of supervisory directors

The duty of the supervisory board is to supervise the policies of the management board and the general affairs of the company and its affiliated enterprise. It shall assist the management board with advice. In discharging their role, the supervisory board members shall be guided by...

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9 practical tips to avoid liability of directors

There are many different forms of liability of directors. A distinction can be made between internal liability, liability in case of bankruptcy and liability towards third parties. internal liability Internal liability means the liability of a director towards the legal entity or (in bankruptcy) the bankruptcy trustee. The most common form of internal liability is liability based on improper...

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