We are living in challenging times, arguably far more challenging than in 2008 given the supply and the demand side issues all businesses are facing, and the concerns as to our personal well-being and that of those around us. Against such a backdrop, informed decision-making by directors is all the more complicated, and so too any assessment of the risks that directors face in trying to steer a company through what are often unchartered waters.

With so many corporate and trust structures involving a combination of Jersey, Guernsey and BVI incorporated entities, and with the laws of those jurisdictions being different, sometimes markedly so, this is a critical point that must not be overlooked. A Jersey or Guernsey based director seeking advice from Jersey or Guernsey legal counsel on governance, corporate, finance or litigation issues that relate to their conduct of a BVI incorporated company, or vice versa, is laying a foundation that will undermine all of the decisions that follow, and which will leave that director open to challenge and potential liability.

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