In a new explanatory video, the experts of Heuking Kühn Lüer Wojtek’s Corporate/M&A and Insurance/Reinsurance Practice Groups are focusing on general manager liability. They explain in which cases general managers are liable and how to obtain protection from claims for damages.
In the animated video, the fictitious Mr. Klar is appointed general manager. Ms. Falk, an equally fictitious Heuking lawyer, explains his future responsibilities, rights, and duties. He has to manage the company with due diligence: He may be liable for intentional and negligent breaches of duty. If he adheres to the principles of the Business Judgement Rule, which allow a wide scope of action in management measures, he will be able to avoid liability in the event of damage. Ms. Falk also recommends taking out D&O insurance, which will protect Mr. Klar in the event of claims for damages by his own company and by third parties.
Heuking Kühn Lüer Wojtek’s Corporate/M&A Practice Group is not only advising in traditional M&A areas but also on capital market-oriented projects, real estate transactions, and other major asset acquisitions and sales. Additional explanatory videos are found on the Practice Group’s web page.
The Insurance /Reinsurance Practice Group has 20 members who, in addition to advising comprehensively on all matters relating to insurance law for insurance companies, banks, and industrial companies, are also representing clients in litigation before ordinary courts or arbitration tribunals.
Watch the new video here.