Friday 11 October 2013

UK: England and Wales: directors' duties under the Companies Act 2006

The Court of Appeal delivered its written judgment in Coppage v Safety Net Security Ltd [2013] EWCA Civ 1176 today. The judgment contains some brief discussion of the duties of directors now found in the Companies Act 2006 (albeit in the context of a question forming a ground of appeal on which the court declined to give an answer). Sir Bernard Rix, delivering the only reasoned opinion (with which Sir Stanley Burnton and Lord Justice Ryder agreed) stated (at para. [28]): "These new provisions both replace and build on common law rules and equitable principles. What is not clear, however, is how the new statutory provisions and the existing common law principles are intended to bed down together".

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