Company Directors' Responsibility to Creditors

The work explores the responsibility of the company directors and creditors of their companies, with particular emphasis on their responsibility to avoid fraudulent trading (essentially involving carrying on business intending to defraud creditors) and wrongful trading (essentially involving directors failing to take appropriate step when they know or ought to know that their company cannot avoid liquidation because of insolvency); to consider, as part of duties to their companies, the interest of creditors when their companies might be, or are, in financial difficulty. The work will consider what the law is at present, what problems exist, the reforms that could be implicated, and it will, importantly, consist of a theoretical consideration of these areas with the aim of assessing what the law should be in these areas.