A Synoptic Vision on Responsibility Directors and Managers of Corporations

Abstract

The article describes the basis of the system of liability of corporate directors. However, due to the length of the subject, the article focuses mainly on those issues in which no agreement has been reached by scholars and that are of paramount importance, firstly analyzing the nature of the liability, and secondly examining the different legal actions that can be initiated. Moreover, the article analyses the facts giving rise to liabilities, the allocation criteria, the regime of joint and several liabilities, as well as its extinction and exemptions. Finally the article makes an examination of the legal and political considerations that our legal scholars have developed about the subject.