10@12 Webinar Series : The role of the NED – an impossible task? Lessons from Carillion and beyond
19th January 2024
Andrew Thompson KC, Andrew Blake and Philip Morrison successfully defended the non-executive directors of Carillion Plc in directors disqualification proceedings brought by the Secretary of State, who abandoned the claim the day before the start of a 13 week trial. In this second webinar arising out of that case, they focus specifically on the lessons for NEDs and those advising them.
10 points that will be covered :
- What is a non-executive director?
- What are the core legal duties of directors under the Companies Act 2006 and how do they apply to NEDs?
- Are directors subject to a strict legal duty to know the true financial position of the company (as alleged by the Secretary of State in Carillion)?
- What rules govern the delegation of responsibility by NEDs?
- What is the role of the UK Corporate Governance Code in relation to NEDs’ duties and liabilities?
- How does the Company Directors Disqualification Act 1986 regime affect NEDs and how does it interact with the NEDs’ duties under the Companies Act 2006?
- What are the practical responsibilities of NEDs?
- What are the practical difficulties that arise for NEDs in carrying out their responsibilities?
- What are the risk areas for NEDs – where they are most exposed to claims?
- How can NEDs try to minimise that exposure?