This article by Brent Haywood, Partner and Solicitor Advocate in our Dispute Resolution and Litigation team, appeared in the Friends of The Scotsman on Monday 11 March.
Non-executive directors are increasingly finding themselves on the receiving end of insolvency litigation. It’s therefore essential they understand the duties and liabilities they’re taking on when they join a board. Too often they don’t.
There are many reasons to become a non-executive director (or NED). It’s good for the CV, interesting work, a way to support other entrepreneurs, and a useful stepping stone if you’ve given up a full-time day job but aren’t ready for a life of year-round leisure.
It’s also flattering to be asked. And if you hesitate, you may well receive assurances that it’s not much work – just four board meetings a year and they keep the paperwork minimal. If you do hear this, be wary.
View entire article here.