REGULATION OF DIRECTORS LIABILITY TO THE THIRD PARTIES IN GEORGIAN LEGISLATIVE FRAMEWORK

Abstract

All companies are required to have at least one director. This is because companies, as “artificial” legal entities, can not act themselves – they need to act through other persons. In most cases, the actions of a director will be treated as being the actions of the company itself. The present article is dedicated to directors personal responsibility to the third parties. Directors can be personally responsible to the third parties in respect of negligent conduct on their part. The aim of the present article is to study the grounds and judicial practices of directors personal responsibility to the third parties.