Our Managing Director, Mr Mark Lee, spoke at an accredited event by the Singapore Institute of Legal Education on a director’s various duties and liabilities in the context of Singapore law.
We were joined by legal practitioners, in-house counsel, and business owners / leaders, whose participation brought to life a diverse range of insightful perspectives from both legal and practical standpoints.
[Key Summary of Talking points – “Directors Duties & Liabilities; Progress or Regression?”]
- The power paradigm between shareholders and the board, and the application of section 157(A) of the Companies Act 1967;
- The various types of directorship one can hold in practice and how such designations / nomenclature are perceived under Singapore law;
- The intricacies and distinctions between a director’s fiduciary duties as opposed to the duty of care, skill and diligence;
- An exploration of the business judgment rule and the question of how or whether business decisions are best left to the boardroom or courtroom;
- A discussion on what precisely is the standard exacted on a director insofar as the duty of care, skill and diligence is concerned;
- A deep dive into the judgment of Inter-Pacific Petroleum Pte Ltd v Goh Jin Hian [2025] SGHC(A) 7 and its implications on how one may interpret or apply the “minimum standard” of duty of care, skill and diligence expected of all directors;
- Finally, the session covered the various fronts a director may also face exposure under criminal / regulatory sanctions (under the Companies Act, Securities and Futures Act, etc).
Our Managing Director can be contacted at: mark.lee@mlclaw.com.sg