Director Responsibilities Articles

1). Potential Implications of Insolvency for Directors By : pete arkwright
Here is a note of the issues that a director of an insolvent company or potentially insolvent company has to take into account. The relevant legislation is primarily contained in the Insolvency Act 1986 (the "Act"). Definition of Insolvency - Section 123 of the Act states that a company is "unable to pay its debts" (i.e. it is insolvent) when the company is unable to meet its debts as and when they fall due.
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