| Abstract [eng] |
Thesis analyzes the contracts of the directors’ and officers’ liability, evaluating the elements of the agreements, as well as, the need for the risk management in business environment. The case law of Supreme Court of Lithuania regarding directors’ liability was analyzed, as well. Thesis tries to answer the question, whether honest directors should ensure their civil liability while courts widely implement business judgement rule. Having this particular goal in mind, the available statistical data from 1st,, June, 2009 till 31st, December, 2020 of the court decisions in accordance to the keywords was reviewed. In addition, the rules of the contracts were analyzed researching, how specific, systematic and clear they were. The insurance risk and it’s connection to insured events was also reviewed. The statistical research and implementation of other methods revealed that there cannot be unambiguous conclusions, as the implementation of the business judgment rule does not fully cover the negative aspects of increased legal fees of the honest directors. However, the insurance agreements do not always fill in the gap, as well. As the insurers are trying to minimize the risks they are taking, in some cases insurance protection is simply unavailable. |
