Liability as a Supervisor: Discover the Risks

Questioner

Ir/Madam, I've been asked to become a supervisor of a foundation. Someone else will also take on the role of director. The foundation has one private limited company (BV). Can I be held personally financially liable in any way for my role as a supervisor? Are there any (financial) disadvantages to being a supervisor? Thank you for your response. Kind regards

Lawyer

I advise you to read this article: http://www.vbk.nl/media/41563/pivbulletin201107aansprakelijkheidtoezichthouders.pdf

Questioner

Thank you for your response. The company is not a school or sports center. It's a consultancy. My point is that if the company were to unexpectedly go bankrupt (not due to mismanagement, but perhaps due to a lack of clients and therefore excessive overhead), could I be held personally financially liable? Can money be collected from me? Thank you so much again for your help!

Lawyer

If you can be accused of not having adequately supervised the board, allowing the board to continue operating despite mismanagement, you may indeed be liable. However, it is possible to take out insurance that covers these risks.