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AI Act Set to Come into Force on 1 August 2024
02 Jul 2024The CLOser - June 2024
27 Jun 2024
Industry Updates
Analysis of Directors' Liability in Ireland
29 Nov 2022
In a landmark decision, the Irish High Court recently held directors and shadow directors personally liable for funds misappropriated by a company as part of a fraudulent investment scheme worth €186 million. This represents the first time that an Irish court has pierced the corporate veil to hold directors personally liable, notwithstanding the well-established company law principle that a company has a separate legal personality to its members and directors. The judgment serves as a stark reminder of the importance of directors' duties and, in particular, the potential consequences for their dereliction by passive directors.
Read more in our full analysis below.
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