Abstract
To improve the position of one creditor for a company in insolvency is nearly always at another creditor’s expense. However, if directors could be held liable for their irresponsible behaviour, this may allow liquidators further opportunities to make directors to make good the loss to their companies or their companies’ creditors. This could be done by revisiting s.172 of the Companies Act 2006 which has not, so far, been particularly effective in improving directorial decision-making. Lessons may be learned from the wording of directors’ duties in other jurisdictions, in particular Ireland.
| Original language | English |
|---|---|
| Pages (from-to) | 355-358 |
| Number of pages | 4 |
| Journal | International Company and Commercial Law Review |
| Volume | 28 |
| Issue number | 10 |
| Publication status | Published - 30 Sept 2017 |
| Event | Inaugural Cross-Border Corporate Insolvency and Commercial Law [CI&CL] Research Group Conference & Symposium - City, University of London, London, United Kingdom Duration: 6 Apr 2017 → 6 Apr 2017 |
Keywords
- Canada
- Comparitive law
- Corporate governance
- Corporate insolvency
- Creditors' rights
- Directors' liabilities
- Directors' powers and duties
- Good faith
- Ireland
