Private Company Director Liability and Protection
Fisher Broyles LLP has posted a paper outlining the sources of liability for directors of private companies, such as breach of fiduciary duty, unpaid wages and payroll taxes, indemnity agreements, credit support and more.
“While the risk is greater in the public company context, private company directors can face substantial personal liability.” the paper says. “Potential claimants, include shareholders, creditors, unpaid employees and the government.”
