Which of the following may be found liable for fraudulent trading under s.213 Insolvency Act 1986?
(1) Creditors
(2) Employees
(3) Shareholders
A (3) only
B (1) and (2) only
C (1), (2) and (3) (correct)
D (2) and (3) only
SIRRR :( please explain how on earth would creditors be liable?
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EXAMINER REPORT QUESTION
6y ago#1If creditors are knowingly particating in the directors' fraudulent activities, then the creditors could be held liable
Why not?
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