Directors’ Duties in Luxembourg

>> Protecting Yourself in Luxembourg

  • exercise care and independent judgement. Act reasonably, with integrity and commonsense. Challenge things when you are uncomfortable, and raise concerns promptly. Seek help and work as a team with your colleagues and Company functional specialists to get help and support where needed and find appropriate solutions
  • monitor the financial situation of the Company continuously, whether or not the function falls within your primary responsibilities to the Company. Ensure the right level and regularity of financial information is available, take time to review it and ask questions
  • if you become concerned that the Company is in, or may face, financial difficulties, take steps to minimise losses and notify appropriate persons within the Company of the issue immediately to so that appropriate and timely advice can be provided. Do not simply keep quiet and hope for the best
  • regularly consider at board meetings items of key importance to your entity such as employee issues, compliance and ethics considerations and key contracts

Latest version updated 4th April 2018

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