at The top of Thomas Cook’s, Belgium, on Friday, the 20th of september, shortly before the liquidation of the British parent company, and two days later, the articles of association of the company to adapt to the new law on joint stock companies have been introduced which are the responsibility of the directors, limits. In the past there was no limit to the amount that the directors may have had to pay for their mistakes. Now, there is a maximum amount of 250,000 euros to 12 million euros, depending on the size of the company.
with The new code and came up with the initiative of the belgian minister of Justice Koen Geens (CD&V). “Board members should not dare to go to a decision, without any compensation, like a sword of Damocles over their head,” he said earlier this year. That is true, however, is not for the serious errors or intentional fraud.
as for The limitation of the liability of the three companies, Thomas Cook Belgium, effective from the 24th of september, as the new articles of association, then, in the office of the clerk have been filed. The old bestuursdaden come here, therefore, is not covered. A key question is, what are the bestuursdaden after the deposit have been made. The trustees say that “the last time” there are 5 million to 6 million of Belgian money, Thomas Cook, the company entered into.
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