Central Bank Of Ecuador And Others v Conticorp SA And Others 1. Strict duties imposed on directors must be discharged, even if they are nominee directors. 2. The Central Bank of Ecuador v Conticorp [2016] 1 BCLC 26 decision illustrates the dire implications for a director who merely follows instructions and by so doing fails […]

The Privy Council’s decision in Central Bank of Ecuador and IAMF v Conticorp SA and others illustrates the importance of ensuring that offshore companies managed by nominee directors are run properly as separate, independent legal entities. It found the defendants guilty of dishonestly assisting and procuring the “nominee director” to act in breach of his […]