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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I am a voluntary NED of a mutual trading company and some of

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I am a voluntary NED of a mutual trading company and some of its directors either have in the past or currently have their own business arrangements with the company which are costing it money. These have not been declared in the board minutes and are prohibited by the M & A. My concern is that although I have attempted to raise these in the board room they have not been minuted or addressed and as we are potentially facing an unfair prejudice suit on a separate matter, these arrangements will come to light and that I will accused of concealment. Should I circulate the information to the shareholders or to the board first advising them of my intention or are there any other options open to me?
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

Since certain board members are the wrongdoers, you should report the wrongdoing to the shareholders first.
This is whistleblowing.

As it is a very sensitive matter, you may contact the charity Public Concern at Work for assistance

http://www.pcaw.org.uk

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