Wrongful trading suspension: Does it create a false sense of security?
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.
Non Executive Directors
How do the duties of non-executive directors differ from those of executive directors? And more importantly for practitioners, what differences are there - if any - in the liabilities they are exposed to?
Michael Gibbon QC has produced a video master-class for the Practical Law website, a short clip is available to view on YouTube.
Source: Thomson Reuters Legal UK & Ireland
Company Law Article
This month, Lawyer Monthly takes a look at Company Law, and the legal implications surrounding it. They spoke to Catherine Newman QC, a leading silk at the commercial Chancery Bar who has a strong practice both domestically and internationally, from Maitland Chambers.
Source: Lawyer Monthly