Former director
A person who previously served as a company director. Resigning does not automatically remove liability for obligations or conduct arising during their time in office.
Related terms
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Co-director
Another director of the same company. Liability is not automatically shared equally; it depends on the obligation, conduct and documents involved.
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Corporate liability
A debt or legal obligation owed by a company in its own name, rather than automatically by its directors or shareholders personally.
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Director conduct
The way a director has managed a company and met their legal duties. It may be reviewed closely if the company becomes insolvent.
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