Ruling will cut director numbers

THE Association of Chartered Certified Accountants (ACCA) fears a recent court ruling exposing directors to claims will lead to a shortage of non-executive directors.

The ACCA says Irish companies may find it harder to attract quality non-executive directors (NEDs), ollowing the English High Court decision to give Equitable Life the right to sue former non-executive directors as well as directors.

ACCA Ireland's Roger Acton said the decision could possibly encourage aggrieved companies to pursue similar actions through Irish law.