Employer Liability and Damages Risks Associated with Seconding Directors to Investee Companies
First written in FY2018. 1 of 3 entries say "Restated". Latest entry: FY2021.
1 other company's latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「As a general rule, agreements limiting liability are entered into between portfolio companies and dispatched personnel, and dispatched officers and employees are also covered under the directors and officers liability insurance taken out by the Group.」
The Group disclosed measures addressing the risks of employer liability and damages associated with dispatching directors to portfolio companies, using agreements limiting liability and directors and officers liability insurance. - FY2019RestatedAnnual report
「The Group may dispatch its officers and employees to serve as part-time directors of portfolio companies. If a Group officer or employee dispatched to a portfolio company faces a claim for damages or similar claim, the Group may incur employer liability and an obligation to bear the relevant compensation amount.」
The risks of employer liability and damages associated with dispatching directors to portfolio companies continue to be disclosed. - FY2018First statedAnnual report
「The Group may dispatch its officers and employees to serve as part-time directors of portfolio companies. If a Group officer or employee dispatched to a portfolio company faces a claim for damages or similar claim, the Group may incur employer liability and an obligation to bear the relevant compensation amount.」
The disclosure newly describes the possibility of employer liability and liability for damages arising from the actions of officers and employees dispatched to support the management of portfolio companies.