Fiduciary Duties (Péče řádného hospodáře) in Commercial Law

Organizer

American Chamber of Commerce
in the Czech Republic

When

28.05.2009, 09:00 - 28.05.2009, 11:00

Where

AmCham offices Show on map

What

Bohumil Havel of Law Faculty, University of Western Bohemia and Petr Kuhn of White&Case will talk about the principle of fiduciary duties and its interpretation in theory, practice and the Supreme Court decisions. The seminar is held in Czech language without translation. The principle of fiduciary duties (in Czech péče řádného hospodáře) is an important principle for claiming compensation of damages. Only that member of a statutory body, who is not acting de lege artis when managing en enterprise in an unsound manner, can be held liable for damages. Notwithstanding that, the principle has not yet been duly defined in the Czech Republic, not even in the judicature of the Supreme Court. Surprisingly, Czech penal law pays more attention, than civil law. The seminar will be focused not only on outlining the content of the term (and its delimitation towards other types of acting – expert, due etc.) and the relevant judicature, but will also deal with many practical situations in which an agent or a board member and the like can fall within fiduciary duties (for example, conclusion of contracts, disposing of an enterprise, acting as a proxy, acting in a concern or in an insolvency proceedings).