Assertion: fund's director | /r/HasProperty | liable
Facets:
value: for repayment
type: PURPOSE
value: similarly
type: DEGREE
value: for failing to adequately supervise employees
type: CAUSE
value: for breach of duty
type: CAUSE
Source sentences:
text: Directors can similarly be liable for breach of duty, and so to restore the money wrongfully paid away, if they failed to take reasonable care.
text: Cases under the Company Director Disqualification Act 1986, such as Re Barings plc (No 5) show that directors will also be liable for failing to adequately supervise employees or have effective risk management systems, as where the London directors ignored a warning report about the currency exchange business in Singapore, where a rogue trader caused losses so massive that it brought the whole bank into insolvency.
text: If companies pay out money to shareholders which in effect is a dividend "disguised" as something else, directors will be liable for repayment.