Thanks for all the contribution so far. The concerns are noted but I'm already fully aware of my responsibilities and the consequences of issues that may arise. Liability is something I do take very seriously but can only endeavour to do my best in the position and guide the pilots under me to be just as responsible. At the end of the day, every pilot is also somewhat liable for their own actions as well, even though the CP takes the heaviest fall.
I appreciate the advice, help and concerns so far...keep them coming!