Last updateTue, 24 Feb 2015 5pm

DIRECTORS: Doing your duty

25 May 2012  

Alexander Fox and Clare Arthurs look at the implications of GHLM Trading v Maroo

Corporate governance and directors’ duties are hot topics at the moment. As the recession bites and creditors desperately seek to recover losses, this is the first time that the codification of directors’ duties in the Companies Act 2006 (CA) and the Corporate Governance Code 2010 has been properly tested. The recent case of GHLM Trading Ltd v Maroo [2012] serves as a reminder to directors that the courts wish to have a substantial role in policing, upholding and, potentially, extending those duties where it is fair to do so.

Additional Info

  • Case(s) Referenced:

    Abbey Forwarding Ltd v Hone & ors [2010] EWHC 2029 (Ch)

    Belmont Finance Corporation Ltd v Williams Furniture Ltd [1979] Ch 250

    Brandeaux Advisers (UK) Ltd & ors v Chadwick [2010] EWHC 3241 (QB)

    Colin Gywer & Associates Ltd v London Wharf (Limehouse) Ltd [2003] 2 BCLC 153

    GHLM Trading Ltd v Maroo & ors [2012] EWHC 61 (Ch)

    In the Matter of Snelling House Ltd [2012] EWHC 440 (Ch)

    Item Software (UK) Ltd v Fassihi & ors [2004] EWCA Civ 1244

    Re White & Osmond (Parkstone) Ltd (Unreported 30 June 1960)