Civil and criminal liability of managing directors at a SAS.
To start with, the managing director’s liability must be distinguished from a company’s liability which is limited to the company’s share capital. By comparison, no such restriction applies to the managing director.
The managing director of an SAS may be held accountable in his or her capacity as executive leader both on the basis of his or her own actions or omissions and on the basis of the actions of the company or its employees. These regulations also apply to the so-called “dirigeants de faits”, i.e. managing directors who were not officially appointed by shareholder resolution but outwardly perform the same duties. [Read more…]