Company Directors Responsibilities to Creditors

Author: Andrew Keay
Publisher: Routledge
ISBN: 9780203945438
Format: PDF, Mobi
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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.

Company Directors Responsibilities to Creditors

Author: Andrew R. Keay
Publisher: Routledge Cavendish
ISBN: 9781845680084
Format: PDF
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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.

Directors duty for the benefit of creditors

Author: Sebastian von Thunen
Publisher: V&R unipress GmbH
ISBN: 389971864X
Format: PDF, ePub
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English summary: The quest for adequate creditor protection rules applicable to an English private limited company established in Germany in conformity with EU law has not come to an end yet. By focusing on Directors' Duty for the Benefit of Creditors, the work looks at an English creditor protection measure which has not received much attention neither in Germany nor in England so far. The English case law is systematised and examined in detail in order to assess the relevance of this fiduciary duty for the protection of creditors in Germany. Consideration is given to economic and comparative analysis as well as to the question how the Duty for the Benefit of Creditors in Germany will be applied in German legal practice. It is suggested that the Duty for the Benefit of Creditors is potentially the most important instrument for the protection of creditors of an Englisch private limited company established in Germany. german description: Wie kann man Glaubiger einer in Deutschland niedergelassenen englischen Limited angemessen und europarechtskonform schutzen? Von einer abschliessenden Klarung ist diese Frage weit entfernt. Mit der Directors' Duty for the Benefit of Creditors nimmt Sebastian von Thunen hier ein in Deutschland wie auch in England bislang wenig beachtetes richterrechtliches Glaubigerschutzinstrument des englischen Rechts in den Blick. Das einschlagige englische Fallmaterial wird systematisiert und detailliert daraufhin untersucht, welche Rolle diese Geschaftsleiterpflicht hierzulande fur den Glaubigerschutz spielen kann. Dabei finden rechtsokonomische und rechtsvergleichende Uberlegungen ebenso Eingang wie die Frage, wie sich die Anwendung der Duty for the Benefit of Creditors in Deutschland praktisch darstellt. Es stellt sich heraus, dass sie das Potenzial hat, die bedeutendste Regelung zum Schutz der Glaubiger einer englischen Limited mit Verwaltungssitz in Deutschland zu werden.

Directors Duties in the Context of Insolvency

Author: Julia Honds
Publisher: GRIN Verlag
ISBN: 363887740X
Format: PDF
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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, 59 entries in the bibliography, 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.

Principles of Contemporary Corporate Governance

Author: Jean Jacques du Plessis
Publisher: Cambridge University Press
ISBN: 1108349528
Format: PDF, Docs
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Now in its fourth edition, Principles of Contemporary Corporate Governance offers comprehensive coverage of the key topics and emerging themes in private sector corporate governance. It explains both the principles of corporate governance systems and their real-world application in an authoritative and engaging manner. This fully revised and updated text has four parts: basic concepts, board structures and company officers; corporate governance in Australia; corporate governance in international and global contexts; and shareholder activism and business ethics. The coverage of international contexts includes sections on the US, the UK, Canada, South Africa, the EU, the OECD, Germany, Japan, China and Indonesia, plus new sections on New Zealand and India. A new chapter on business ethics and corporate governance presents contemporary discussions on the topic and explores some of the broader legal issues. Principles of Contemporary Corporate Governance is an indispensable resource for business and law students, academic researchers and practitioners

Principles of Corporate Finance Law

Author: Eilis Ferran
Publisher: Oxford University Press
ISBN: 0199671346
Format: PDF, ePub, Mobi
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With the additional contribution of Look Chan Ho, an expert in the field of corporate finance, this thoroughly revised and updated second edition of Ferran's 'Principles of Corporate Finance Law' explores the relationship between law and finance.

Creditor Protection in Private Companies

Author: Thomas Bachner
Publisher: Cambridge University Press
ISBN: 0521895383
Format: PDF, ePub, Docs
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Investigates mechanisms in English and German law that protect creditors against the abuse of limited liability by directors and shareholders.

Directors Personal Liability for Corporate Fault

Author: Helen Anderson
Publisher: Kluwer Law International B.V.
ISBN: 9041126740
Format: PDF
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This collection of essays describes and analyzes the legal regimes governing directors' liability for corporate fault and default across eleven important trading jurisdictions.