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Hello!
If you don’t mind I will describe the case in my Kit.
Director A thinks to wound up the “ABC” plc.
Director B insists on continuation. Director A agrees and takes less part in business affairs.
Later Dirctor B falsifies accounting documents and disguise the company suffers losses untill it becomes insolvent.Are Director A liable for wrongful trading and B for fraudulent trading
OR
Both Directors are liable for fraudulent trading?I would so much appreciate if you help me with this question.
Thank you.
B certainly liable for both wrongful and, more importantly, fraudulent
A? Could A have reasonably foreseen that the company would be unable to avoid an insolvent liquidation in the foreseeable future. In my opinion it’s looking very dodgy indeed for A. Should either have taken closer or resigned. To wetly agree with B and then take less and less interest ……
A could very well be faced with a claim for wrongful trading
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