Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Monday, 1 June 2009
Defence costs for company director
A company can lend money to a director to fund the defence of civil, criminal or regulatory proceedings
If the director is exonerated from wrong doing at the end of those proceedings, the company may also waive repayment of the loan and indemnify the director in respect of those costs
If he is not, then the loan must be repaid immediately if the proceedings were civil or criminal, but this is not obligatory if the proceedings were regulatory or brought by a third party
If the director is exonerated from wrong doing at the end of those proceedings, the company may also waive repayment of the loan and indemnify the director in respect of those costs
If he is not, then the loan must be repaid immediately if the proceedings were civil or criminal, but this is not obligatory if the proceedings were regulatory or brought by a third party
Labels: civil, company director loan, criminal, proceedings, regulatory
# posted by michael @ 08:00 
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