Reckless and Insolvent Trading Rules:
September 28, 2020
Continuing to trade while insolvent may see a director charged with reckless trading resulting in personal liability for the debts incurred by the company.
Under section 135 of the Companies Act 1993, a director of a company must not cause or allow the business of that...
TAGS
InsolvencyDirectors LiabilityDirector DutiesLiquidationsliquidatorsCompanies ActCovid 19creditorsDebt CollectionDebt Hibernationdiector's dutiesInsolvency Qualifying companiesInsolvent adviceIRDLiquLiquidationLocalOverdrawn Current AccountsPAYE DebtReceiversreckless tradingSafe HarbourShareholder LoansWind up