Judgment was given last Friday in ODL Securities Ltd v McGrath & Ors [2013] EWHC 1865 (Comm). The trial judge held that an individual, appointed as a company's head of risk, was in a position closely analogous to that of director and subject to the same fiduciary duties. This included a duty to disclose matters that it was in the company's interests to know including his own misconduct.
Monday, 8 July 2013
UK: England and Wales: Head of Risk at company subject to same duties as director
Judgment was given last Friday in ODL Securities Ltd v McGrath & Ors [2013] EWHC 1865 (Comm). The trial judge held that an individual, appointed as a company's head of risk, was in a position closely analogous to that of director and subject to the same fiduciary duties. This included a duty to disclose matters that it was in the company's interests to know including his own misconduct.
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