29 mei: Director’s Liability: An Effective Instrument for Compliance?

Compliance and Enforcement Seminar Series

The UvA Amsterdam Center for Law & Economics (ACLE), and the VU Department of Criminal Law and Criminology cordially invite you to a seminar session with

Dr. Judith van Erp


Director’s Liability: An Effective Instrument for Compliance?

Regularly, corporations or semi-state controlled organisations experience serious financial damage or even collapse as a result of mismanagement. A recurrent question is how to take action against executives or internal or external supervisors responsible for this mismanagement. One of the instruments available is the internal liability of executives and internal supervisors ex article 2:9 BW, which enables corporations to claim financial damage from their former directors or supervisors. The impression is that relatively few 2:9 procedures have been started, which leads to the assumption that executives responsible for mismanagement ‘get away with it’ easily.

The current research project investigated possible reasons for not holding executives and board members internally liable for the damage caused by the improper performance of their duties, in cases where there was sufficient ground to do so. We investigated 11 cases both in the private and semi-state controlled sector where liability procedures have been initiated or where such a course of action was possible, but was decided against. Our research gives insight in actions behind the screens and in the shadow of the law taken against former executives, even when a formal 2:9 procedure is not started. It also informs about the motives of organizations to start and refrain from a formal procedure, which leads to a better understanding of the meaning and relevance of law in corporations in severe financial distress.

* See http://www.wodc.nl/onderzoeksdatabase/aansprakelijk-stellen-bestuurders-voor-financieel-wanbeleid.aspx?cp=44&cs=6796 for the relevant research publication for this seminar.

About the Speaker
Dr. Judith van Erp is associate professor in Criminology at Erasmus School of Law. Her research addresses regulation of corporate behavior, corporate compliance and corporate crime, and in particular, the intersection of various public and private modes of regulation and governance. In 2007, she received a NWO Talent Grant (VENI) to conduct a three year research project on naming and shaming in the Dutch financial market. Recent research projects include the evaluation of the Dutch Consumer protection law; an investigation of the use of director liability claims by corporations, a criminal case analysis at the Dutch environmental protection agency, and research into the compliance motivations of health care organizations in the field of competition law. Click here to view Dr. Judith van Erp’s publications.

Date: Tuesday, 29 May 2012
Time: 15.00 – 16.00
Universiteit van Amsterdam | UvA
Faculteit der Rechtsgeleerdheid | Amsterdam Law School
Oudemanhuispoort 4-6
1012 CN Amsterdam
Room no.: A 2.08
Information: Prof. Dr. Benjamin van Rooij | b.vanrooij@uva.nl

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