Hans De Wulf, Ingrid De Poorter

De aansprakelijkheid van vennootschapsbestuurders en commissarissen

WP 2004-03

This article offers a general overview of the legal rules on directors' and auditors' liability under Belgian law, and discusses af few of the recent developments in this area, such as the controversial new rules on the individual right of company creditors to sue directors after a company has been declared bankrupt, the apparent immunity of directors for their culpa in contrahendo following a 2001 decision by the cour de cassation, the respective duties of directors and auditors in discovering and reacting to accounting fraud, and criminal liability of auditors. The article also offers some suggestions concerning the question whether different standards of care (should) apply to executive and non-executive directors.