Director
A person legally responsible for managing a company. Directors have statutory and fiduciary duties that can become especially important when a company is in financial distress.
Related terms
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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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Fiduciary duty
A duty to act loyally and properly in another party’s interests, such as duties owed by company directors to the company.
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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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