One of the questions for companies facing financial difficulties both in the U.S. and in the UK is the extent to which the boards of the companies owe duties to creditors to try to avoid creditors’ losses as the companies approach insolvency. I discussed the state of the law in Delaware regarding these issues in a recent post. In the following guest post, Francis Kean, a partner in the financial lines team at McGill and Partners, takes a look at the recent suspension in the UK of “wrongful trading’ legislation A version of Francis’s article previously was published on LinkedIn. I would like to thank Francis for allowing me to publish his article as a guest post on my site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly of you would like to submit a guest post. Here is Francis’s article.
Continue Reading Guest Post: UK’s Wrongful Trading Laws Suspended: Good News for Company Directors?