Corporate Managers And Officers

Now you see them – now you don't

Company Law 101 – if you attended the class and were awake in it, would teach you that the classic concept of management of a company is that the directors of a company are responsible for its management. This concept is important in regard to such legal issues as who owes fiduciary duties to shareholders and, in the case of insolvent companies or those teetering on the brink of insolvency, creditors, as well as some constitutional and regulatory matters. You may also have learnt that the Directors are officers of the company along with such people as the Secretary, Treasurer and others elected to positions of responsibility at the Annual General Meeting.