Companies Act 19,550 · Article 279 — Individual liability action
Individual action by a shareholder or third party (Art. 279 LGS)
Article 279 of the General Companies Law preserves the individual action of shareholders and third parties against directors for harm suffered directly.
What article 279
Article 279 recognizes the individual liability action against directors.
Official text · Act 19,550, art. 279
Shareholders and third parties always retain their individual actions against directors.
Source: Law 19,550, Art. 279 — InfoLEG (updated official text)
Commentary
In addition to the corporate action (which remedies harm to the company), anyone who suffered direct harm to their assets may sue the director personally. These are compatible avenues: one protects the company; the other, the directly injured party.
This page is informational and does not constitute legal advice nor replace professional consultation. It quotes the official text of the rule; for its application to a specific case, consult a licensed professional.
Do you need advice on this matter?
The firm is headquartered in Buenos Aires, Argentina, and advises clients worldwide.
Contact the firm