Summary
In an exciting week for insolvency, the Minister for Financial Services, Superannuation and Corporate Law has released a package of reforms to Australia’s corporate insolvency laws. This reform package includes:
Australia, Insolvency & Restructuring, Norton Rose Fulbright, Shareholder, Unsecured debt, Class action, Debt, Duty of care, Moratorium, Business judgement rule, Corporations Act 2001 (Australia)
The following is a broad overview of the duties and liabilities of directors when their company is in financial difficulties. It is a general guide only and there will be variations according to the specific laws in each jurisdiction.
United Kingdom, Company & Commercial, Insolvency & Restructuring, Norton Rose Fulbright, Public company, Confidentiality, Shareholder, Breach of contract, Fraud, Fiduciary, Board of directors, Debt, Liability (financial accounting), Liquidation, Good faith, Balance sheet, Cashflow, Liquidator (law)