Even such titles as finance director, HR director or director of production carry the same liability because individuals are ‘holding themselves out to be a director’ if they do not have statutory status. Thus a great number of directors sail through life oblivious to the large potential liabilities they have and that they have exposed their personal wealth to risk, for which they do not usually carry any liability insurance. If you want to be a director, get elected to the board as a statutory director and in the UK sign your form 288A or AP01 (or its equivalent elsewhere), and make sure that
...more
