Director's liability for transactions with conflict of interests: the meaning of shareholders’ consent and the problem of double recovery

The article analyzes the court practice in connection with liability of commercial organization director, who made a transaction with violation of rules on conflict of the personal director’s interest and the interest of the company, which he represents. The author makes an accent on legal problems of corporate liability, in particular on the problem of double loss recovery from the director and form the dishonest party of the transaction, made by the director, and the problem of influence of corporate consent concerning the transaction mentioned.