Director liability for unlawful corporate acts: directors jointly and severally liable to compensate company for profits and losses. Directors who approve or vote for actions contravening the Act, other law, or the company's articles are jointly and severally liable to make good any loss or damage to the producer company; additionally, the company may recover from such directors any profit made by the director from the contravention and any loss or damage suffered by the company, with this liability being in addition to other liabilities under law.
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Provisions expressly mentioned in the judgment/order text.
Director liability for unlawful corporate acts: directors jointly and severally liable to compensate company for profits and losses.
Directors who approve or vote for actions contravening the Act, other law, or the company's articles are jointly and severally liable to make good any loss or damage to the producer company; additionally, the company may recover from such directors any profit made by the director from the contravention and any loss or damage suffered by the company, with this liability being in addition to other liabilities under law.
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