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Should the courts review directors’ business judgment? This question has been canvassed extensively in academic literature. Arguments against such review include the dangers of judging directors’ decisions with the benefit of hindsight; the fact that judges lack business expertise and should not, therefore, second guess business decisions; that review of business judgment with liability would deter individuals from becoming directors; or that it would lead to more risk adverse decisions. Arguments for review include improving standards; deterring unfit directors; and, significantly, accountability of directors for harms they have caused through careless decisions.
This paper reassesses the debate, drawing on the findings of a two year Arts and Humanities Research Council funded study Business Judgment and the Courts. This project examined what was meant by business judgment; identified how the courts apply this concept; and assessed to what extent d
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Shirley Williams obituary: Labour minister who quit to launch SDP Luke O Reilly
Baroness Williams of Crosby – better known as Shirley Williams – has died at the age of 90.
Ms Williams was one of the disenchanted ex-Labour Cabinet ministers who became the Gang of Four founders of the breakaway and short-lived Social Democratic Party.
She was a busy, breathless, tousle-haired intellectual who acquired an unwanted reputation for missing trains or going to the wrong venue for meetings. That was how she became affectionately known as Shilly Shally Shirley.
Once Lady Astor told her: “You will never get anywhere in politics with hair like that.”
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