Insolvent Trading in UK Law
- Trading While Insolvent
- Trading Insolvent What Are Your Legal Duties As A Director?
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The Truth about Dishonesty in Fraudulent Trading under English Law
Case: Pantiles Investments Ltd & Anor v Winckler [2019] EWHC 1298 (Ch) (23 May 2019) - A recent decision of the English High Court (the “Court”) has found a director guilty of fraudulent trading...... ... of liability rarely invoked, yet it is an important remedy for insolvency practitioners, particularly since it can be raised where the insolvent company’s assets overall have not been diminished in the course of trading - in contrast to ‘wrongful trading’ under s. 214 of the Insolvency ... ...
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Guiding You Through... Guide For Directors Of A Company Facing Insolvency
... ... required to compensate creditors for loss suffered as a result of trading the company when it becomes clear that there was no reasonable prospect of ... If the company goes into insolvent liquidation, their actions will be scrutinised by the company's ... ...
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Covid-19: Wrongful Trading
For directors of companies facing financial difficulties, the wrongful trading regime can be front of mind, given the exposure to risk of personal liability.... ... The regime requires directors to judge whether there is a reasonable prospect of the company avoiding insolvent liquidation, or insolvent administration (i.e. where the company’s assets are insufficient to meet its liabilities) ... There is great ... ...
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Contractors In Trouble: Spotting The Warning Signs
... ... imposed more onerous trading terms on their subcontractors. They ... are also rationalising their list ... the potentially insolvent party ... If one of your sub-contractors, or even your company, is ... ...
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UK Government Announcement Regarding Changes To The UK’s Insolvency Regime ?Prompted By COVID-19?
On 28 March 2020 the UK government (the “Government”), following the lead of Australia ?and Germany, announced plans to introduce a temporary relaxation of the existing wrongful ?trading regime for...... ... to introduce a temporary relaxation of the existing wrongful trading regime for company directors. Specifically, the Government has ... risk of personal liability should their business later become insolvent. In the same announcement, the Government indicated further-reaching ... ...
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Corporate Insolvencies Set To Be The Main Driver Of D&O Risk
... ... to do so, they might face personal liability for wrongful trading ... should the company become insolvent ... However, to alleviate ... ...
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Retail Risk Review ' State Of The D&O Market For The Retail Sector
... ... Instances of internal fraud ... encompassed wrongful accounting, trading while insolvent, insider ... trading, and other fraudulent activities ... ...
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Employer Could Not Be Expected To Trade Whilst Insolvent To Allow For Consultation
... ... AEI Cables Ltd was advised that unless it reduced its costs quickly there was a risk that it would face criminal liability for trading whilst insolvent. Soon afterwards the bank refused to extend the company's overdraft, and 124 employees were made redundant with immediate effect ... ...
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