Misfeasance
A breach of duty or misuse of company property by a director or other officer that can lead to a court order requiring repayment, restoration or compensation.
Related terms
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Compensation order
An order requiring a disqualified director, in qualifying cases, to pay compensation where their conduct caused identifiable loss to creditors.
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Breach of fiduciary duty
A failure by someone in a position of trust, such as a director, to comply with duties owed to the company or others under the law.
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Duty to creditors
The principle that directors must give increasing weight to creditors’ interests when insolvency is probable or the company is insolvent.
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