Wednesday 3 July 2013

Isle of Man: High Court considers directors' duties

A copy of the High Court decision Templeton Insurance v Corlett (Ord 11/23, 18 June) has recently been published: see here (part 1) and here (part 2). This is an interesting decision, drawing heavily on English authorities, considering the duties of directors and in which His Honour Deemster Corlett chose to stress what he described as "the high standards required from company directors and in particular the need for each director to take responsibility to safeguard the company's interests and not necessarily to rely on what they are told by a fellow director".

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