Didas Muganga Kayihura ~ Corporate Governance And The Liability Of Corporate Directors: The Case Of Rwanda
This study tries to investigate from the Rwandan perspective, whether there are any circumstances that would lead to personal or joint liability of a director when performing his/her duties as a company director. It also investigates when and when not Rwandan Corporate directors would benefit from the insulation of the corporate veil. The study also tries to look at what the legal (express and implied) duties of company directors are and what the legal consequences would be in case of breach or ultra vires these duties.
The findings of this study indicate however that, the knowledge and awareness of directors’ duties and obligations have always been presumed based on what exists in law, but that it does not necessarily and actually tally with what is known and practiced.
For company directors, the findings of this study offers a basis upon which they can best evaluate their role in the running of their respective company’s business and social life. It as well puts together all the express and implied duties and the possible liabilities thereof under Rwandan law, in case of breach or ultra vires these duties. The provisions from different scattered Rwandan laws relevant to directors’ duties as well as inspirations from other developed systems have informed this study’s findings, aiming at ensuring for a better performance of Rwandan Corporate sector.