The legal principle is that directors, supervisory directors and de facto policymakers of companies, associations, foundations and cooperatives cannot be held personally liable. But there are important exceptions.
The risk of directors’ and officers’ liability is not reserved for large enterprises; it is something that small and medium-sized companies (SMEs) also have to deal with. It usually arises in cases of bankruptcies but can also occur in other instances.
The lawyers working for Borsboom & Hamm regularly act as receiver and as administrator in suspension-of-payment matters. They also act on behalf of directors’, supervisory directors’ and de facto managers, and advise creditors and shareholders on the liability of directors, supervisory directors and de facto managers.