Key Points
Where a sole director and shareholder of a company had breached fiduciary duties he could not ratify the breach if the company was insolvent;
Claims against the company in liquidation by dishonest assisting parties could not be set off under rule 4.90 Insolvency Rules against any liability they had in damages for that assistance.
The Facts
United Kingdom, Insolvency & Restructuring, Litigation, Taylor Wessing, Shareholder, Fiduciary, High Court of Justice (England & Wales)
A number of changes have been made to insolvency procedure to remove various discrepancies and controversial practices:
Bulgaria, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Bankruptcy, Costs in English law, Debtor, Debt, Secured creditor, Capital punishment