EXAMINER REPORT QUESTION

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December 4, 2019 at 6:50 am #554813
draiells
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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?
December 4, 2019 at 4:41 pm #554938
MikeLittle
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If creditors are knowingly particating in the directors’ fraudulent activities, then the creditors could be held liable

Why not?
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