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Legal Consequences and Liability of Actions by Directors and Commissioners After Term Expiry

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Cross-sectional survey reveals civil and criminal liability risks for directors, indicating reappointment mechanisms need review.

Actions taken post-term expiration may lead to civil liability risks for corporate directors and commissioners.
Significant positive correlations exist between ultra vires actions and civil liability risk, r = 0.582.
Reappointment via General Meeting of Shareholders negatively correlates with both civil and criminal risk, indicating governance flaws.
Small-cap firms exhibit the highest civil risk, highlighting the need for enhanced corporate governance measures.

Panjaitan et al. (2025) studied this question.

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