Breach of fiduciary duty in a downturn
LIVE Webcast online
Fiduciary duty is not only limited to directors or officers of the company. It is important to note that employees too owe fiduciary duties - to their employer. The availability and use of proper forensic tool or methodology to uncover fraudulent activities have made it possible for perpetrators to be brought to justice. Further there are avenues under the Companies Act 2016 which allow the Liquidator to review past transactions and take the necessary recovery action against parties, in the interest of the company.
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Abdul Malek Mohamed Said
Executive Director, Restructuring Services