In regards to the management of business at a global level there are many laws, regulations, public and private institutions, as well as universities that promote the culture of best practices of corporate governance, however, there continue to be cases of insolvency of companies due to their mismanagement in the absence of proper rules of corporate governance.
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BANKRUPTCY LAW
- 02/11/2018 - 14:00 - 17:30
- Centro de Congressos S. João
Presentation
Personal Liabilities out of the Insolvency
In response to crisis situations, company executives are compelled to take decisions. Although each jurisdiction provides for the type of decisions to be made and the timelines for involvement, it has become necessary to protect the creditors’ right to recover their debts. The timeline for and effects of these decisions, and even failure to adopt them, are subject to change and may lead to individuals being held liable. Although the insolvency may be accidental in nature and not result from poor management on the part of company executives, there are often administrative acts that may give rise to personal claims on the part of creditors, or even measures imposed by the courts. Consequently, insolvency law also encompasses analysis of the types of personal liability that may result from corporate financial difficulties, both from the standpoint of the insolvent debtor and that of the debtor’s creditors, as well as determination of the effects and the consequences in the various jurisdictions.
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