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News

Wrongful trading suspension: Does it create a false sense of security?

Articles, Insolvency & Restructuring

08 April 2020

Wrongful trading laws have been suspended. But other relevant laws remain unchanged. Critically directors remain subject to the creditors’ interest duty. Read our article which examines the current position and highlights other key issues to be kept firmly in mind by directors and those advising them in these challenging times.

Many directors are facing difficult decisions as they try to keep their businesses afloat. Wrongful trading laws have been suspended. But other relevant laws remain unchanged. Critically directors remain subject to the creditors’ interest duty. Not only is this duty more easily engaged than the wrongful trading provisions but its precise trigger is the subject of an appeal pending before the Supreme Court. This article examines the current position and highlights other key issues to be kept firmly in mind by directors and those advising them in these challenging times.

To read the full article please click here.

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