Enacting Civil Remedies in Company Law

Abstract

This paper examines the current remedies for breach of directors' duties (including remedies under Part X of the Companies Act 1985), and considers the feasibility of codifying such remedies in statute. It concludes that such codification is in principle feasible and desirable, though further work, to some extent dependent on the fate of directors' duties themselves, is required before such codification could become a reality. The paper was originally prepared for the Company Law Review Steering Group. In its recently published final report, the Steering Group has responded positively to the paper.