CORPORATE GOVERNANCE [25 marks]

"A director is not bound to bring any special skills to his office. So long as the director acts honestly, they cannot be held responsible for the damages, unless they are guilty of gross negligence or dereliction of their duties". This was the decision in the old case of Re Brazilian Rubber Plantations and Estates Limited..... To what extent does this statement remain true with regard to directors' duties of skill and care today? Discuss fully