Company money is for company purposes

In order to properly discharge their obligations to a company which they are appointed, directors must be satisfied that they are using company money for ‘proper purposes’.  By treating the company interests as their own interests they may be in breach of their fiduciary duties and engaging in conduct that would be oppressive to the rights of shareholders.  This article will explore the principles that underpin when it is appropriate for company funds to be used.  In short, company money must only be used for company purposes. [Read more…]

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