Der Bußgeldregress im Kapitalgesellschaftsrecht

The increasing amounts of fines imposed on companies raise the question if the financial damage caused by such fines can be passed on to the directors considered responsible for them. This extremely practice-relevant issue of directors’ liability has not yet been clarified conclusively by the German courts. In this study, the author focuses on the sanctioning purposes pursued by company fines. He considers these purposes to be undermined if such fines could be succesfully passed on the directors. In the current debate, he adds the aspect of a behaviour-controlling orientation of company fines also towards the company’s shareholders. In conclusion, the author opposes liability in this constellation.