To ensure that directors do not act against the interests of creditors by delaying the submission of a request for the opening of insolvency proceedings, despite signs of insolvency, Member States should lay down provisions making directors civilly liable for failing to submit such a request. In such cases, directors should compensate creditors for any damage resulting from the deterioration in the recovery value of the company compared to the situation that would have existed had the request been submitted on time. To the extent that this Directive does not provide for specific rules, all other aspects of civil liability, such as the calculation of damages or the burden of proof, should be governed by national law. Member States should also be able to adopt or maintain national rules on the civil liability of directors related to filing for insolvency that are stricter than those laid down by this Directive.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
