GRP Rainer Rechtsanwälte – Liability of managing directors in the event of competition violations

Oct 15, 2018 | Uncategorized

A company”s legal infringements can also come back to haunt its managing director. That being said, the latter”s liability towards third parties is strictly limited.

Legal infringements are particularly common in the fields of trademark and competition law. Our experience at the commercial law firm GRP Rainer Rechtsanwälte shows that in these cases claims are often brought against the managing director of the company acting unlawfully as well. Having said that, the managing director”s personal liability towards third parties in event of competition violations is now strictly limited.

As early as 2014, the Bundesgerichtshof (BGH), Germany”s Federal Supreme Court, considerably curtailed managing directors” liability (Az.: I ZR 242/12). The BGH distanced itself from the prevailing case law at the time, according to which managing directors” liability came into consideration if the managing director knew of employees” competition violations and did nothing to prevent them. The Karlsruhe judges held that the managing director”s status as a governing body and their general responsibility for the company do not by themselves give rise to an obligation on the part of the managing director to prevent competition violations in relation to external third parties. Mere knowledge of a competition violation and failure to prevent it are not enough to trigger liability on the part of the managing director.

Managing directors” liability might nevertheless come into question if the managing director personally committed the unlawful act or ordered that it be carried out or, pursuant to the principles of tort law, a duty to intervene arises by virtue of his or her position, with the result that the managing director”s conduct can ultimately be blamed for the competition violation.

Furthermore, the managing director has a duty towards the company to ensure that legal infringements such as competition violations do not occur. If the managing director fails in this respect to fulfil their duty to manage the business in a prudent manner, he or she may still be liable towards the company. However, according to the case law of the BGH, this duty does not extend to external third parties, as general liability would impose an almost incalculable risk on the managing director.

Legal disputes are common when it comes to issues pertaining to managing directors” liability. Lawyers who are experienced in the field of company law can provide managing directors and other executive organs as well as companies with comprehensive advice.

https://www.grprainer.com/en/legal-advice/company-law.html

GRP Rainer Rechtsanwälte – Liability of managing directors in the event of competition violations

Oct 15, 2018 | Uncategorized

A company’s legal infringements can also come back to haunt its managing director. That being said, the latter’s liability towards third parties is strictly limited.

Legal infringements are particularly common in the fields of trademark and competition law. Our experience at the commercial law firm GRP Rainer Rechtsanwälte shows that in these cases claims are often brought against the managing director of the company acting unlawfully as well. Having said that, the managing director’s personal liability towards third parties in event of competition violations is now strictly limited.

As early as 2014, the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, considerably curtailed managing directors’ liability (Az.: I ZR 242/12). The BGH distanced itself from the prevailing case law at the time, according to which managing directors’ liability came into consideration if the managing director knew of employees’ competition violations and did nothing to prevent them. The Karlsruhe judges held that the managing director’s status as a governing body and their general responsibility for the company do not by themselves give rise to an obligation on the part of the managing director to prevent competition violations in relation to external third parties. Mere knowledge of a competition violation and failure to prevent it are not enough to trigger liability on the part of the managing director.

Managing directors’ liability might nevertheless come into question if the managing director personally committed the unlawful act or ordered that it be carried out or, pursuant to the principles of tort law, a duty to intervene arises by virtue of his or her position, with the result that the managing director’s conduct can ultimately be blamed for the competition violation.

Furthermore, the managing director has a duty towards the company to ensure that legal infringements such as competition violations do not occur. If the managing director fails in this respect to fulfil their duty to manage the business in a prudent manner, he or she may still be liable towards the company. However, according to the case law of the BGH, this duty does not extend to external third parties, as general liability would impose an almost incalculable risk on the managing director.

Legal disputes are common when it comes to issues pertaining to managing directors’ liability. Lawyers who are experienced in the field of company law can provide managing directors and other executive organs as well as companies with comprehensive advice.

https://www.grprainer.com/en/legal-advice/company-law.html

FORE School of Management opens applications for 2019-21

Oct 15, 2018 | Uncategorized

Located at the heart of South Delhi, in the Qutub Institutional Area, FORE School of Management, New Delhi has opened registration for its 2-year full-time Post Graduate Diploma in Management (PGDM), Post Graduate Diploma in Management – International Business (PGDM-IB) and Post Graduate Diploma in Financial Management (PGDM-FM), 2019-21 batches.

The application process for admissions in the 28th Batch of PGDM, 13th Batch of PGDM-IB and 2nd batch of PGDM-FM for the forthcoming session will start from 10th October 2018 through online mode. The last date to apply is 20th December 2018. Total Number of seats on the offer this year is 360.

“The selection procedure at FORE includes short-listing based on CAT / XAT / GMAT scores followed by Written Ability Test (WAT), Business Awareness Quiz (BA-Q), Extempore and Personal Interview (PI). The final selection is based on the candidate’s performance in CAT / XAT / GMAT and in WAT / BA-Q / Extempore / PI, academic performance, work experience, and other potential managerial skill sets. Weightages designed and proposed for this year is somewhat like – CAT/XAT/GMAT score: 35%; Business Awareness Quiz (BA-Q): 5%; Extempore: 5%; Written Ability Test (WAT): 10%; Personal Interview: 20%; Past Academic Performance: 15%; Work-ex: 10%. The selection process ensures that equal opportunity is provided to students to prove their merit”, said Professor Anil Kumar Singh, Executive Chair (Admissions), FORE.

To encourage diversity, a special weightage of 5% (over and above 100%) is offered to students from the North Eastern states, Jammu & Kashmir & South India (Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana, & Puducherry).
With 40%+ faculty members and 32%+ students being female, FORE strongly emphasizes on Gender Diversity. Therefore, under the above mentioned diversity criteria, weightage will also be given to female candidates in 2019-21 batch onwards.
“Pre-placement (PPO/PPI’s) offers usually go on till January but placements for the Batch 2017-19 has picked up with great intensity. Many students got 18 lacs per annum PPO. The leading recruiters were Deloitte US, Tata Capital, Go Digit, HUL, NIVEA India Pvt. Ltd., Philips Lighting, Nestle, Hilti, Capgemini, United Biscuits etc.,” added Prof. Singh.
Application fees: For online application submission, candidates need to pay Rs. 1,947 for 1 programme; 2,950 for 2 programmes and 3,894 for 3 programmes (Including 18% GST) through either Credit/Debit Card or Net Banking. The shortlisted candidates will be informed by email and SMS.
One can apply online. ( http://admissions.fsm.ac.in/login ) For more information, one can contact admissions@fsm.ac.in; 011-41242415; 011-26569996.