Company Directors Responsibilities To Creditors

Author : Andrew Keay
Publisher : Routledge
Page : 726 pages
File Size : 49,5 Mb
Release : 2007-03-12
Category : Law
ISBN : 9781135390334

Get Book

Company Directors' Responsibilities to Creditors by Andrew Keay Pdf

This timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and addresses the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for the before mentioned. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested. Company directors have certain responsibilities to creditors of their companies. In particular, they should avoid fraudulent and wrongful trading and consider, as part of their duties, the interests of creditors when their companies might be, or are, in financial difficulty. The work is precipitated by the lack of coherence in the consideration of wrongful trading and the recent delivery of important cases on fraudulent trading. Also, this timely work is the first to comprehensively examine directors' responsibilities to creditors in times of financial strife, as well as addressing when these responsibilities arise, and what directors should have to do to ensure that they comply with their obligations. Keay explores the relevant issues from doctrinal, normative and comparative perspectives and seeks to address the question as to when directors are liable for wrongful trading, fraudulent trading or breach of their duties to creditors and whether directors should be held responsible for wrongful trading and failing to consider the interests of creditors. Besides the relevant UK legislation and case law, legislation and case law from Australia, Canada, Ireland and the United States are examined and compared, and reforms which take into account the aims and rationale of the relevant legislation as well as creditors' interests are proposed and assessed. Importantly, new approaches for courts which would make the nature of the responsibility and its timing more precise are suggested.

Author : Julia Honds
Publisher : GRIN Verlag
Page : 56 pages
File Size : 46,8 Mb
Release : 2007-12-17
Category : Law
ISBN : 9783638877350

Get Book

Directors' duties in the context of insolvency by Julia Honds Pdf

Essay from the year 2006 in the subject Law - Comparative Legal Systems, Comparative Law, grade: A, Victoria University of Wellington, course: LLM Research Paper, Master Abschlussarbeit, language: English, abstract: This essay deals with directors’ duties, focusing on the duties that specially arise in the context of a company becoming insolvent. The relevant duties are those under sections 131, 135 and 136 of the Companies Act 1993. The drafting of these insolvent trading provisions in New Zealand has been criticised in the legal literature. This research paper considers not only this criticism but also deals with the more general debate about the value of insolvent trading provisions in general. Although the current drafting of the relevant provisions in New Zealand is not without minor flaws, the need for creditor protection requires the maintenance of insolvent trading provisions in general. Besides that, this essay looks at the remedies for breaches of directors’ duties. The most important provision in this context is s 301 Companies Act 1993. Pursuant to this provision both the liquidator and individual creditors can enforce directors’ civil liability. However, the possibilities of individual creditors to obtain payment directly to themselves are restricted. The final part of this essay considers the question whether a separate duty directly owed to individual creditors should be introduced. Although such a duty seems to have some benefits, it would not be commensurate with leading principles and ideas of Insolvency Law and should therefore not be introduced. It is the concern of this research paper to point out the many issues that arise in context of directors’ duties and insolvency law and to show that it is important to strike an appropriate balance between the intended creditor protection and the entrepreneurial freedom of company directors.

Author : Paul J. Omar
Publisher : Routledge
Page : 143 pages
File Size : 52,5 Mb
Release : 2018-10-24
Category : Law
ISBN : 9781351746779

Get Book

Directors' Duties and Liabilities by Paul J. Omar Pdf

This title was first published in 2000. The law relating to directors’ duties has fundamental implications across the business environment and yet few areas of business law have received so little detailed examination. This text provides fresh and incisive insights to the rules applying in ten major economic jurisdictions within Europe, with respect to directors’ legal obligations and liabilities. Written by the foremost figures in the field, each contribution outlines the statutory provisions that affect the work of company directors in each jurisdiction, including general legislation and specific laws covering the status of incorporated bodies. Fully illustrated with case-law examples the book provides a guide to the range of measures which national courts may provide for participants in corporate life seeking remedies for unsatisfactory governance of companies. It also features guidance on the specific bases for criminal and civil liabilities and examples of the range of penalties to which directors might be subject. The result is a work of unprecedented detail which will be welcomed by practitioners in the corporate sector, academics and researchers alike.

Author : Andrew Keay
Publisher : Taylor & Francis
Page : 398 pages
File Size : 48,5 Mb
Release : 2023-06-23
Category : Law
ISBN : 9780429561207

Get Book

Company Directors' Liability and Creditor Protection by Andrew Keay Pdf

The book provides an analytical exposition of the law concerning directors’ liability for the losses sustained by their companies’ creditors, when the directors’ companies are in financial distress or become insolvent. It is a detailed one-stop resource for obtaining a good understanding of the law which has developed from legislation and case law. In particular, there is a detailed consideration of what needs to be proved, what defences there are, and what might be the issues of concern for all parties. A doctrinal method is adopted and there is extensive analysis of the relevant legislation and case law. Rather than merely referring to cases to support propositions, the discussion considers many of the cases in context and in depth and their relevance to the aim of the book. The book also endeavours to provide views, in a practical way, on aspects of the law and it identifies problems and how they may be addressed. Of interest to legal practitioners and insolvency practitioners alike, in addition the book will be useful to directors, government officials and academics.

Author : Andrew Keay
Publisher : Routledge
Page : 422 pages
File Size : 46,7 Mb
Release : 2007-03-12
Category : Law
ISBN : 9781135390341

Get Book

Company Directors' Responsibilities to Creditors by Andrew Keay Pdf

Pt. A. Introduction -- pt. B. Fraudulent trading -- pt. C. Wrongful trading -- pt. D. A duty to consider the interests of creditors -- pt. E. Theoretical analysis.

Author : Institute of Directors
Publisher : Kogan Page Publishers
Page : 216 pages
File Size : 49,5 Mb
Release : 2005
Category : Directors of corporations
ISBN : 0749444673

Get Book

The Director's Handbook by Institute of Directors Pdf

"The Director's Handbook is published by the Institute of Directors (IoD) in association with law firm Pinsent Masons. It is not a legal text book; it is a practical resource for those who run companies and need to understand the ever-changing legal and regulatory environment in which they operate. All companies - large or small, public or private - and many other organisations too, will find it useful."--BOOK JACKET.

Author : Allens Arthur Robinson
Publisher : Unknown
Page : 0 pages
File Size : 46,8 Mb
Release : 2007
Category : Bankruptcy
ISBN : 0455223491

Get Book

Directors' Duties During Insolvency by Allens Arthur Robinson Pdf

Provides an overview of the theoretical framework of directors' duties and the ways in which breach of such duties may be utilised to recover money for distribution to unsatisfied creditors of insolvent companies. Comments on recent developments such as the report published by the Federal Corporate and Markets Advisory Committee (CAMAC), Corporate Duties Below Board Level, which recognises the realities of modern corporate structures and the fact that many significant decisions are made by managers without reference to the board.

Author : Simon Mortimore
Publisher : OUP Oxford
Page : 0 pages
File Size : 49,5 Mb
Release : 2013-01-24
Category : Law
ISBN : 0199645310

Get Book

Company Directors by Simon Mortimore Pdf

The second edition of this leading work on company directors has been expanded to cover new areas such as tax and provides even greater analysis on dynamic areas including derivative claims, unfair prejudice litigation, and corruption under the Bribery Act 2010.

Author : Helen Lesley Anderson
Publisher : Unknown
Page : 331 pages
File Size : 45,7 Mb
Release : 2006
Category : Bankruptcy
ISBN : 045522370X

Get Book

Corporate Directors' Liability to Creditors by Helen Lesley Anderson Pdf

This book considers the legal and policy issues that impact on the duty and role of the company director in relation to the company's debts. Reform directions are also provided.

Author : Robert Baxt
Publisher : AICD
Page : 292 pages
File Size : 54,8 Mb
Release : 2005
Category : Corporate governance
ISBN : 187660462X

Get Book

Duties and Responsibilities of Directors and Officers by Robert Baxt Pdf

"This work covers the most important aspects of a director's duties and responsibilities." --p. ix.

Author : Silvana Schenone
Publisher : CCH New Zealand Limited
Page : 321 pages
File Size : 47,6 Mb
Release : 2013-07-01
Category : Business & Economics
ISBN : 9780864759085

Get Book

Duties and Responsibilities of Directors and Company Secretaries in New Zealand (4th edition) by Silvana Schenone Pdf

It has never been more important for directors and management to have a clear understanding of directors' duties. Not only do we have a new, empowered, regulator in the form of the Financial Markets Authority, but the Courts are generating new case law, in the wake of the global financial crisis and finance company failures. This new edition of Duties and Responsibilities of Directors and Company Secretaries in New Zealand sets out in a clear and concise manner the duties imposed by law on directors and includes new commentary on the evolution of the interpretation by the courts and the regulators of these matters. Comprehensive indexes, cases and statute tables ensure relevant information is easily located.

Author : Simon Mortimore
Publisher : Unknown
Page : 0 pages
File Size : 46,7 Mb
Release : 2017
Category : Law
ISBN : 0198754396

Get Book

Company Directors by Simon Mortimore Pdf

This is a new edition of the established authority on the law relating to directors of companies incorporated under the UK Companies Acts. The new edition features all important developments in the law including the Small Business, Enterprise and Employment Act 2015 which improves transparency (including requiring directors to be natural persons unless exceptions apply), simplifies company filing requirements, clarifies the application of general duties to shadow directors, modernises directors' disqualification and reforms insolvency law to facilitate proceedings where there has been wrongdoing. There has been a wealth of new case law relevant to directors' duties before the English courts, all of which are analysed and explained, including the Supreme Court decisions in Prest v Petrodel Resources, Jetivia v Bilta (UK), FHR European Ventures v Cedar Capital Partners and Eclairs Group v JKX Oil & Gas, the Court of Appeal decisions in Smithton Ltd v Naggar and Newcastle International Airport v Eversheds as well as the important High Court decisions in Universal Project Management Services v Fort Gilkicker, Madoff Securities International v Raven and the wrongful trading case, Re Ralls Builders. Non-UK cases are also analysed including Weavering Macro Fixed Income Fund Ltd v Peterson in the Cayman Islands' Court of Appeal and the 2016 decision of the Hong Kong Court of Final Appeal Chen v Jason. In keeping with developments in case law and legislation the book now includes expanded coverage of multiple derivatives claims, directors' exposure to third party claims and a new chapter on civil remedies for market abuse. The third edition is a complete reference work on the law relating to company directors and is the first port of call for all serious corporate lawyers and scholars on this subject.

Author : Peter Loose,John Yelland,David Impey
Publisher : Unknown
Page : 660 pages
File Size : 51,5 Mb
Release : 1993
Category : Directors of corporations
ISBN : NWU:35556022631808

Get Book

The Company Director by Peter Loose,John Yelland,David Impey Pdf

Author : Australia. Parliament. Senate. Standing Committee on Legal and Constitutional Affairs
Publisher : Australian Government Publishing Service
Page : 220 pages
File Size : 45,8 Mb
Release : 1989
Category : Corporate governance
ISBN : UCSD:31822005106836

Get Book

Company Directors' Duties by Australia. Parliament. Senate. Standing Committee on Legal and Constitutional Affairs Pdf

Author : Andrew Keay
Publisher : Unknown
Page : 0 pages
File Size : 48,6 Mb
Release : 2023
Category : LAW
ISBN : 0429266235

Get Book

Company Directors' Liability and Creditor Protection by Andrew Keay Pdf

The book provides an analytical exposition of the law concerning directors' liability for the losses sustained by their companies' creditors, when the directors' companies are in financial distress or become insolvent. It is a detailed one-stop resource for obtaining a good understanding of the law which has developed from legislation and case law. In particular, there is a detailed consideration of what needs to be proved, what defences there are, and what might be the issues of concern for all parties. A doctrinal method is adopted and there is extensive analysis of the relevant legislation and case law. Rather than merely referring to cases to support propositions, the discussion considers many of the cases in context and in depth and their relevance to the aim of the book. The book also endeavours to provide views, in a practical way, on aspects of the law and it identifies problems and how they may be addressed. Of interest to legal practitioners and insolvency practitioners alike, in addition the book will be useful to directors, government officials and academics.