Commentary

150 Conflict of interest and confidentiality

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

150 Conflict of interest and confidentiality

| Commentary

150 Conflict of interest and confidentiality

In a management buy-out the managers will be directors (and possibly employees) of the target company or of the seller (if a company), or perhaps both. If so, the managers may well have written service contracts, or may have entered into separate restrictive covenants and confidentiality agreements with either the target company or the sellers.

As a director, each manager will owe statutory duties to the company of which he is a directorincluding duties to promote the success of the company and to avoid any situation in which he has, or can have, a direct

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