The possibility of partners and members incurring personal liability is not a new concept. However, while liability arising from the provision of services to clients is a subject we are all familiar with, far less has been said about individuals incurring personal liability as a consequence of their internal management of the firm’s affairs. In times of economic difficulty, when managing partners and management committees are forced to take tough decisions, the judgment of Bernard Livesey QC in Philip Tann v Clive James Herrington is a timely reminder of the personal liability that can result an internal management function.
June 25, 2009 at 04:44 AM
1 minute read
The original version of this story was published on Legalweek
Manager’s need to be wary of their personal liability when making decisions for the firm
The possibility of partners and members incurring personal liability is not a new concept. However, while liability arising from the provision of services to clients is a subject we are all familiar with, far less has been said about individuals incurring personal liability as a consequence of their internal management of the firm’s affairs.
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