MITIGATION FOR BREACHING DIRECTORS’ DUTIES UNDER DURESS

Section 212(1) Insolvency Act 1986 is the gateway which allows a liquidator to pursue a recovery for creditors where, in the course of a winding up of a company, it appears that a director or someone involved in the formation, promotion or management of a company has “misapplied or retained, or become accountable for, any money or other property of the company, or been guilty of any misfeasance or breach of any fiduciary or other duty in relation to the company”.

(Please click below for the full bulletin)

Insolvency Bulletin – Volume 3 Issue 11 (September 2022)