Mark Holligon and Kyle Sutherland, partners at leading law firm Appleby, delivered a broad overview of the duties and legal obligations a company director faces to members of the Association of Chartered Certified Accountants (ACCA) at a recent seminar.

The event, held at The Sefton hotel in Douglas last week, was organised by the Isle of Man network of the ACCA and attended by around 40 members.

Directors are responsible for the management and success of their companies, but can face serious penalties if those powers are abused. The law seeks to restrict and control directors to prevent them from abusing their powers and position through corporate governance. The aim of the seminar was to give ACCA members further insight into responsibilities of directors.

The Appleby presentation examined the different types of directors, what the main duties are and what practical actions can be taken to meet their responsibilities and legal obligations.

Liz McLaggan, ACCA Engagement Manager for the Isle of Man, said: ‘ACCA was delighted to work with Appleby on this event. Mark and Kyle shared the latest insights on this important area of legislation and how it impacts on the Isle of Man. This enables ACCA members to share best practice with their colleagues and clients.’

Mark Holligon, a partner in the Dispute Resolution department, is an expert in contentious and non-contentious arenas, both onshore and offshore, with a focus on commercial litigation, insolvency and restructuring. Kyle Sutherland, a partner in the Corporate department, specialises in a broad range of corporate and commercial disciplines in both the Isle of Man and British Virgin Islands, ranging from joint venture work, restructurings, mergers and acquisitions, asset finance transactions, private placement and listing work.


Photo - Kyle Sutherland.