To all those reading this I am David Gibbs; I am a Lecturer in Law at the University of East Anglia.

I created this blog as a general out-let of ideas for my research, as well as keeping those interested up-to-date on my research and general interests.

I completed my PhD thesis at the University of East Anglia in 2014. The thesis was recommended for the award of PhD with no corrections. My external examiner was Prof. Simon Deakin (Cambridge) and internal examiner was Prof. Morten Hviid.
My PhD research centred on directors' duties and company law. The thesis was titled 'Non-Executive Self-Interest: Fiduciary Duties and Corporate Governance'. It was a doctrinal and empirical study on whether self-interest was suitably controlled amongst non-executive directors.

My supervisors were Prof. Mathias Siems, Prof. Duncan Sheehan, Dr. Sara Connolly and Dr. Rob Heywood

All opinions of any existing or future blogpost are my own. They do not necessarily represent the views of any of my associated institutions.
ORCID 0000-0002-6596-8536

Tuesday, 28 December 2010

Decrease in Disqualified Directors

The Times have reported today an increase in reports to the Insolvency Service about directors from 3539 in 2002 to 7030 in 2009. The number of directors disqualified has decreased from 1594 to 1387.

The Insolvency Service budget has fallen as well from £9305 to £4097 per case since 2002. According to The Times the lack of resources means that investigators will only take cases that are considered to be "low hanging fruit" leaving the more serious violations unpunished.

From a breach of duty point of view it may provide further evidence that although the ways in which directors may be subject to liability the likelihood of that ever being a worry for a director is minimal. More practical ways in ensuring directors are not acting in breach of duty or not fulfilling their non-fiduciary duties are needed. Merely making directors more liable will not prevent those with an intent to breach duties regardless of any ethical codes of conduct. Accidental breach their duties will continue to occur for reasoning of generality of the codified statement or misinterpretation of it.

What more practical ways may work is unclear. An early thought may be something similar to compliance programs that you see as a method to prevent breaches of competition law. Further research would be needed for more recommendations however.

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