95% of the contests end in liquidation for not having a proper plan crisis, according Olleros Attorneys
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Last Friday was held at the headquarters of the Italian Chamber of Commerce in Madrid, the conference "Corporate Governance. Liability of legal persons and their managers ", organized by Olleros Attorneys. At the conference, Javier Mata, Managing tastecard Partner of Olleros Attorneys Madrid; Iñigo Rodríguez-Sastre, tastecard Partner, and Rocio Gil, Senior Fellow, discussed the different types of liability which may be incurred both legal entities and their managers tastecard under the law current. At the time, identified the problem in different areas of bankruptcy, criminal and civil law.
Javier Mata explained the feeders responsibility in situations of financial stress, with special reference to bankruptcy. Javier stressed the need for every business to have an appropriate crisis plan, selecting and designing strategies tastecard for anticipating and preventing risks. According to Javier, the crisis plan should pretend especially that "the principle of limitation of liability shall not derive respect and responsibility to managers."
Javier Mata recommended, in crisis situations, wear a formal "very" orderly management, time to stop the crisis and its causes, develop a crisis plan and, if asset imbalance, lead to the dissolution tastecard of the company or, if insolvency, go to contest preconcurso or settlement of payments. Also, Javier said that 95% of the contests end in settlement for failing to prevent a "correct crisis plan" but not to "not be afraid to go to the competition."
Rocio Gil noted the growing importance of compliance programs today. Analyzed its fundamental aspects and effects derived from its implementation in enterprises from different perspectives, not only, although a relevant way, from a criminal perspective, as they can constitute mitigating tastecard or exculpatory liability.
The speaker began by stressing the decisive influence in this area is having tastecard legislative activity, especially criminal nature. Specifically, the reform of 2010, which introduced tastecard criminal liability of legal persons, and the recent tastecard reform bill that statute, have marked a before and after in compliance policies in our country.
The second tastecard part of the presentation focused on analyzing the characteristics, contents and phases tastecard that must meet compliance programs that can be tested for their effectiveness and the employer benefit from the various advantages of the implementation of the same represents.
In conclusion, intervened Iñigo Rodriguez-Sastre, who focused on the civil liability of directors of corporations and the essential elements of protection. Iñigo said the administrator role is to manage and represent the Company through a freely given will, so the acceptance of the position is the key element. The administrator must keep secret, you can not use the name of the company tastecard for proprietary trading and leverage business situations for themselves, compete, or intervene in situations of conflict Administrator interest.The person may be natural or legal, and in this case, it must appoint an individual representative tastecard of the legal person, who shall be jointly liable tastecard done-managers also respond.
Manager's liability has hardened in recent times, under the concept of civil fault, tastecard and in some cases, objective, being supportive, with exceptions. Pure ignorance does not relieve him from responsibility. The draft amendment to the Companies Act for the improvement of corporate governance has, inter alia, the limitation period of four years since he was bringing an action, modifying Article 949 of the Commercial Code.
Iñigo concluded by stating that the latest proposed changes include, as already noted, the joint liability of the natural person representative body corporate administrator, the return of unjust enrichment in case of breach of duty of loyalty, the prohibition of corporate assets for personal gain, the necessary existence of responsibility and guilt to derive, a significant development, the joint responsibility of the Director General with the other ad
Home News News Rules Sentences Economics Arbitration and Mediation Expert News and Interviews Arbitration and Mediation Expert Opinion Opinion Interviews Special Delivery Professionals Lawyers Notaries Industry News Pro Bono Judges vLex
Last Friday was held at the headquarters of the Italian Chamber of Commerce in Madrid, the conference "Corporate Governance. Liability of legal persons and their managers ", organized by Olleros Attorneys. At the conference, Javier Mata, Managing tastecard Partner of Olleros Attorneys Madrid; Iñigo Rodríguez-Sastre, tastecard Partner, and Rocio Gil, Senior Fellow, discussed the different types of liability which may be incurred both legal entities and their managers tastecard under the law current. At the time, identified the problem in different areas of bankruptcy, criminal and civil law.
Javier Mata explained the feeders responsibility in situations of financial stress, with special reference to bankruptcy. Javier stressed the need for every business to have an appropriate crisis plan, selecting and designing strategies tastecard for anticipating and preventing risks. According to Javier, the crisis plan should pretend especially that "the principle of limitation of liability shall not derive respect and responsibility to managers."
Javier Mata recommended, in crisis situations, wear a formal "very" orderly management, time to stop the crisis and its causes, develop a crisis plan and, if asset imbalance, lead to the dissolution tastecard of the company or, if insolvency, go to contest preconcurso or settlement of payments. Also, Javier said that 95% of the contests end in settlement for failing to prevent a "correct crisis plan" but not to "not be afraid to go to the competition."
Rocio Gil noted the growing importance of compliance programs today. Analyzed its fundamental aspects and effects derived from its implementation in enterprises from different perspectives, not only, although a relevant way, from a criminal perspective, as they can constitute mitigating tastecard or exculpatory liability.
The speaker began by stressing the decisive influence in this area is having tastecard legislative activity, especially criminal nature. Specifically, the reform of 2010, which introduced tastecard criminal liability of legal persons, and the recent tastecard reform bill that statute, have marked a before and after in compliance policies in our country.
The second tastecard part of the presentation focused on analyzing the characteristics, contents and phases tastecard that must meet compliance programs that can be tested for their effectiveness and the employer benefit from the various advantages of the implementation of the same represents.
In conclusion, intervened Iñigo Rodriguez-Sastre, who focused on the civil liability of directors of corporations and the essential elements of protection. Iñigo said the administrator role is to manage and represent the Company through a freely given will, so the acceptance of the position is the key element. The administrator must keep secret, you can not use the name of the company tastecard for proprietary trading and leverage business situations for themselves, compete, or intervene in situations of conflict Administrator interest.The person may be natural or legal, and in this case, it must appoint an individual representative tastecard of the legal person, who shall be jointly liable tastecard done-managers also respond.
Manager's liability has hardened in recent times, under the concept of civil fault, tastecard and in some cases, objective, being supportive, with exceptions. Pure ignorance does not relieve him from responsibility. The draft amendment to the Companies Act for the improvement of corporate governance has, inter alia, the limitation period of four years since he was bringing an action, modifying Article 949 of the Commercial Code.
Iñigo concluded by stating that the latest proposed changes include, as already noted, the joint liability of the natural person representative body corporate administrator, the return of unjust enrichment in case of breach of duty of loyalty, the prohibition of corporate assets for personal gain, the necessary existence of responsibility and guilt to derive, a significant development, the joint responsibility of the Director General with the other ad
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