Directors have considerable duties – to members of the company and to other parties, including creditors. The specific duties can change, depending on the financial health of the company.
Please see the full directors duties factsheet for information on:
- how directors' duties are established;
- what the duty to "promote the success of the company" means;
- what the duty to "avoid conflicts of interest" involves;
- consideration of the interests of creditors;
- company insolvency;
- the practical steps directors should follow in the light of their duties.