The realization of the budgets to be viabilize torts vary by event type harmful as the active subject that provokes so. A manager of a company that civil liability should take? A commercial company may sue for damages caused by mismanagement of the agency?
Bolivian law there is no specific regulation on tort budgets. However, throughout Latin America, especially in Argentina, the doctrine is unanimous in mentioning that liability budgets are: action, damage, imputation factor (subjective or objective) and causality. It seems that in the case of the directors of a corporation in terms of the damage is concerned, these bases can be applied to one or another variation.
Hi Pedro,
Are you talking about the liability of the Board of Directors of a publicly traded company? If you are talking about a company with public stockholders, then the Directors are fiduciaries -- not agents. And the cause of action would be a derivative lawsuit on behalf of the wronged corporation, which lawsuit would be filed by the shareholders/investors ( i.e., the absentee owners of the corporation).
The managers of the day-to-day activities of the company are the agents; that is to say, they are in an agency relationship with the shareholders for whom they are supposed to be managing the business. If the foregoing are the relationships you are talking about, then in what role is the "commercial company" suing? Is it a shareholder?
Please give me more details so that I can take a stab at answering your questions from the standpoint of which entities are in the role of would-be plaintiffs. Also, if the prospective defendants are actually the managers of a publicly traded company, one must be certain that the "mismanagement" alleged does not fall into the area of the "business judgment" rule. Because if it does, it will be hard to make a case for a Common Law tort such as negligence. For the "mis-manager" to be held liable, one would need to show gross negligence, total incompetence, self-dealing or fraud.
Gwen
Dear Gwen :
I really appreciate for taking the time to answer commenting on the case of the Board of Directors of companies said they traded .
The position you take as a case is very valid and interesting , especially in first world countries .
For details ask me I commented that in Latin America, a commercial enterprise , must necessarily have an administrator who may or may not be the legal representative of the same . In analogy to the case you raise , for companies listed on the exchange, also commercial companies partners or shareholders have standing to sue the trustee , on behalf of society aggrieved by any damage caused .
In commercial societies , not necessarily listed in the bag, should answer for the damages caused ? There should be a specific rule as it happens - apparently - in the law where you live ?
Regarding the allocation factor be it negligence or fraud , do not forget that in Latin America - Roman system - the fault has variants such as negligence and , precisely, the trend is not necessarily intentional efforts should be made to answer for the administrator damages.
The current approach is no longer looking at the allocation factor of the agent that causes damage but rather, seek compensation for that damage stop producing and is effectively compensated .
Conclude by saying that - in Latin America - is being expanded allocation factor , as far as damage is concerned. There are subjective allocation factor ( guilt and intent) as well as target allocation factor (equity). The truth is that , as I said above, the purpose is to protect the victim of the damage , hence kindly answer my question in my knowledge large .
A big hug and hope you can help me with more legal requirements.
Re: "The truth is that , as I said above, the purpose is to protect the victim of the damage."
Hi Pedro,
This trend toward shifting the focus to protecting the victim is very similar to what has happened in the U.S. in the product liability area ("Consumer Protection"), especially with respect to the legal/ethical/social theory of STRICT LIABILITY. Since consumer protection laws are enacted by the various individual states in addition to the overarching consumer protection statutes administered on a national level by various federal agencies, some very interesting pre-emption cases have come up. I think that since these cases involve statutory law (akin to your Civil Law) as well as Common Law which is always administered at the state -- not federal--level, they can be of interest to you. Please see my short article regarding the pre-emption issue in product liability cases on RG: "Pre-empting Regulators, Empowering States, Screwing Marketing: Dissecting Altria v, Good and Wyeth v. Levine".
Also, so that you have a general understanding of product liability cases in our litigious society, I have prepared a 5- or 6-slide PowerPoint presentation containing the essence of the lecture I give on this subject in my Business Ethics course. I have uploaded the presentation in your "Other Folder" on FACEBOOK because I couldn't upload it here on RG -- for some reason it wouldn't search for the file. If you have difficulty opening up the presentation on FACEBOOK, send me an e-mail ([email protected]) and that way I will have your e-mail and can send you the presentation as an e-mail attachment.
Finally, if you are interested in pre-emption in the Corporate Governance area, you may find it interesting to read another article I have on RG: "Legislative Excess or Regulatory Brilliance? Corporate Governance after SARBOX".
Gwen
Professor Gwen:
I'm really very grateful for your kindness in sharing expertise in the field. Obviously will review the information provided in your articles and I am interested in pursuing further in legislation to writing about the responsibility of the manager, not necessarily in consumer issues but in general. Thank you for the help and hope from you to help by bibliography, references, rules, laws, etc..
Quid pro quo, count me for any issue or legal matter in Latin American legislation. A hug.
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