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Old 1st October 2019, 11.49:19   #11-0 (permalink)
wrexhamandy
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Joined: Jan 2009
Racecourse Spot: Upper Yale
Real Name: Andy
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Default Re: Fiduciary Duty and the Board

Quote:
Originally Posted by 3pmsaturday View Post
Way back when, at the time I was involved actively with the Trust we were schooled by Supporters Direct that we should not overstep our Fiduciary Duty. As a Trust Board Member we were trustees of the Trust monies and should always work in good faith and trust. I do not think for one minute that anyone involved in the Trust or Club Board is not acting in good faith, however, we were told rightly, making decisions or advising on areas of expertise that they were not qualified to do is a breach of that Duty.

The reality is we cannot now wait to appoint a new manager but for me the Board are in Breach of this requirement. With this in mind I feel an appointment to the end of the season and a proper Fiduciary Duty compliant structure be implemented.

I have not supported the EGM drive as I feel that the danger of losing our hard working current Directors is too great, I do feel however, that and EGM based on this point could and should be supported by the majority of Trust Members at an EGM. Its basically saying that the Board must not bridge their expertise as trustees effectively of the Clubs Monies as I currently believe they are. Appoint some football knowledge would satisfy their Fiduciary Duties.

Thoughts welcomed.
I think most would support any extra football expertise the club could get. And questions do need to be asked about recent appointments.

However suggesting the trust and club are beaching their legal fiduciary duties is a pretty strong thing to say and a whole other level. I would suggest you be careful with that given I cannot see anything in what you have said to support such an allegation. Otherwise there would be directors breaching their fiduciary duties up and down the country every week when hiring or firing managers on the basis they don’t have enough of some undefined “football knowledge”.
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