- Start date: 1 October 2016
- End date: 1 October 2018
- Funder: Arts and Humanities Research Council (AHRC)
- Primary investigator: Professor Joan Loughrey
- Co-investigators: Professor Andrew Keay, Dr Francis Okanigbuan, Professor Terence Mcnulty University of Liverpool, Ms Abigail Stewart University of Liverpool
Directors are rarely held legally accountable for decisions that have poor outcomes. A key reason is that courts have asserted that the exercise of director’s business judgment should be immune from judicial review. Thus classifying a decision as a business judgment provides directors with a powerful shield from accountability. Yet the meaning and boundaries of the concept of business judgment and the consequences of review/non-review have received little attention. The project aims to address this gap by:
- Establishing what is meant by business judgment
- Identifying how the courts apply this concept
- Assessing to what extent directors’ decisions in England and Wales should be subject to review by the courts.
Project award: £281,517
Project Paper shortlisted for Award!
We are delighted that the paper titled: ‘The Concept of Business Judgment’ co-authored by Professor Andrew Keay and Professor Joan Loughrey was shortlisted for the Society of Legal Scholars (SLS) 2017 Best Paper Prize.