Sentences with phrase «wrongful trading»
Wrongful trading refers to a situation when a company continues trading despite being insolvent or having financial difficulties. It means that the company's directors know, or should have known, that there is no reasonable chance of the company recovering but still keep operating. This can lead to legal consequences and is considered inappropriate behavior. Full definition
We advised the director of a large tour operator on proposed claims by the administrators for wrongful trading, breaches of statutory and fiduciary duties and preference payments.
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Philip has extensive expertise in insolvency litigation including wrongful trading, misfeasance actions and antecedent transaction litigation and in representing directors facing director disqualification proceedings.
Tim's recent insolvency experience includes s. 236 interviews / applications, applications by office holders for directions, unfair prejudice petitions, misfeasance and wrongful trading claims, undervalue / preference / s.
Guernsey Royal Court has cleared the directors of asset management firm Carlyle Group of wrongful trading at the time of the credit crunch, in a keenly anticipated ruling.
The provisions of the Insolvency Act 1986, ss 231/4 to order a contribution towards a company's assets on a winding up for fraudulent and wrongful trading respectively are untouched.
We provide advice that covers all aspects of insolvency disputes, from asset investigations and realisations from debtors and delinquent directors on behalf of office holders, to wrongful trading advice to boards of companies and retention of title, asset removal, dividend claims by creditors and defending winding - up petitions.
Insolvency litigation including wrongful trading, misfeasance actions and antecedent transaction litigation
He advises regularly on claims for wrongful trading, preferences, undervalue transactions, illegal dividends and breaches of duty / misfeasance.
His recent cases include BTA Bank v Ablyazov [2014] 2 CLC 263, in which the Bank successfully obtained disclosure of solicitors» papers under the fraud exception to privilege; Ardila Investments v ENRC [2015] 2 BCLC 560, a dispute concerning an iron ore mine in which the defendant alleged that licences for the mine had been obtained unlawfully; and Grant v Ralls [2016] BCC 296, a # 1.2 million wrongful trading claim.
Judge Snowdon's subsequent judgment clarifies that, even where there is a finding of wrongful trading, it is possible that administrators» and liquidators» costs will not be recovered.
He advises corporate clients and insurers on a broad range of insolvency issues, and has expertise in asset tracing and recovery, and in insolvency litigation, including wrongful trading, misfeasance actions and antecedent transaction litigation.
Simon regularly provides specialist insolvency advice to insolvency practitioners, banks and company directors on a range of issues arising from corporate insolvency including gratuitous alienation and unfair preferences claims, retention of title, landlord's hypothec, wrongful trading and directors» duties and disqualification issues.
These are fraudulent trading and wrongful trading.
Carlyle Capital Corporation v Conway (2011 - 2016)[2013] 2 Lloyd's Rep 179 Instructed on behalf of the liquidators of a collapsed investment fund in substantial claims in the Guernsey Royal Court against the former directors and managing agents of the fund for breach of duty, misfeasance, negligence and wrongful trading.
Corporate insolvency litigation, including wrongful trading, fraudulent trading, misfeasance, preferences and transactions at undervalue
Assisting in relation to claims for misfeasance, breach of duty and asset recovery claims (preferences, transactions at undervalue, wrongful trading or fraudulent trading)
Wrongful trading, disqualification, codification of directors «duties under the Companies Act 2006 - in today «s uncertain economic climate the minefield awaiting company directors requires careful planning.
The liquidators maintained their argument that wrongful trading had taken place and, accordingly, that this gave the Court the power to order investigation costs, so as to ensure that no loss was caused to the unsecured creditors as a result of the claim.
Our expertise in this field includes bringing actions for preferences, transactions at undervalue, fraud, illegal dividends, misfeasance and wrongful trading.
Actions for preferences, transactions at undervalue, fraud, illegal dividends, misfeasance and wrongful trading
Wrongful trading is often misunderstood, but something that all company directors whose company face...
On top of that, the liquidator is keeping an eye out for any one of the various potential claims that can be made out against a director under the Insolvency Act 1986 (wrongful trading, fraudulent trading, misfeasance, preference payments).
We assist them with issues arising during the conduct of the administration or liquidation, including applications to court and litigation for wrongful trading, preference or transactions at undervalue.