After a bankruptcy is declared, the director does not disappear from the picture. Although the trustee takes over the liquidation, the former director may be personally liable for the deficit in the estate or for damages suffered by individual creditors. This article clearly explains when liability is imminent and what measures you can take in advance.
Trustee versus director
Under Turkish law, a joint-stock company’s liquidation follows its termination and ends with its deregistration. If the process is found incomplete—due to overlooked assets or ongoing disputes—supplementary liquidation allows temporary reinstatement of the company’s legal personality to finalize unresolved matters.
Introduction
The Supreme Court has handed down a decision in Bilta (UK) Ltd (in liquidation) and othersv Tradition Financial Services Ltd [2025] UKSC 18, which clarifies the parties who ar
On 21 March 2025, the Dutch Supreme Court ruled that a taxpayer is allowed to deduct a liquidation loss on its participation in a liquidated subsidiary that transferred losses to group companies under the Irish group relief regime in the years prior to the liquidation. This Supreme Court judgment provides a favorable outcome for taxpayers.
Background
Set-off is simply put a reduction or discharge of a debt by setting against it a claim in favour of the debtor (or the person otherwise having to pay).
The applicability of the principle of set-off under the Insolvency and Bankruptcy Code, 2016 (IB Code) is no longer res integra and the draconian view of the inapplicability of set-off under insolvency proceedings has not found Thankfully, judicial favour.
介绍
英属维尔京群岛（“BVI”）的清算可以是：
1) 破产清算，因此受《2003年破产法》（经修订）（「破产法」）管辖；或者
2) 有偿付能力的清算，因此受英属维尔京群岛商业公司法（经修订）（「公司法」）管辖。
《公司法》经《2022 年英属维尔京群岛商业公司（修订）法》及《2022 年英属维尔京群岛商业公司（修订）条例》修订。
本简报列出了与英属维尔京群岛破产清算相关的一些要点。另一份简报涵盖了与英属维尔京群岛自愿（有偿付能力）清算相关的问题。
无力偿债清算的目的
Parkside’s Derek J Y Chan, instructed by Tanner De Witt, acted for the successful Plaintiffs, China City Construction (International) Co., Limited (In Creditors’ Voluntary Liquidation) and Dingway Investment Limited (In Compulsory Liquidation), both acting through their liquidators, in obtaining an anti-suit injunction (“ASI”) to restrain China City Construction & Development Co., (HK) Limited from continuing proceedings (“the Beijing proceedings”) it had commenced in the People
Introduction
When a company goes into liquidation, creditors often wonder whether they will recover their debts. One available option to achieve this is funding legal action to help the liquidator recover assets.
Singapore's insolvency legislation allows creditors who fund liquidators' recovery actions to have priority over other creditors in the distribution of recovered assets. This improves the viability of commencing insolvency proceedings as an asset recovery tool.