"The risk of being accused of Wrongful Trading is sufficient to highlight it as a concern of many Directors...

... Arguably, it is easier for liquidators to make out cases under the adjustment provisions, such as preferences (especially against connected persons)"

RT @Oliver__Elliot@twitter.com

Should I Be Concerned About Wrongful Trading If My Company Enters Liquidation?

https://www.oliverelliot.co.uk/insolvency-guides-and-information/should-i-be-concerned-about-wrongful-trading-if-my-company-goes-into-liquidation/

#wrongfultrading #debt #business #SmallBusiness #covid

🐦🔗: https://twitter.com/Oliver__Elliot/status/1609682005922385920

"yes but not simply because your company has gone into Liquidation. There has to be something a whole lot more involved by causing a loss to creditors due to Director neglect."

#business #SmallBusiness

RT @Oliver__Elliot@twitter.com

Should I Be Concerned About Wrongful Trading If My Company Enters Liquidation?

https://www.oliverelliot.co.uk/insolvency-guides-and-information/should-i-be-concerned-about-wrongful-trading-if-my-company-goes-into-liquidation/

#wrongfultrading #debt #business #SmallBusiness #covid

🐦🔗: https://twitter.com/Oliver__Elliot/status/1609682005922385920

Concerned About Wrongful Trading If Company Enters Liquidation?

Other than #liquidation "There has to be something a whole lot more involved by causing a loss to creditors due to Director neglect."

https://www.oliverelliot.co.uk/insolvency-guides-and-information/should-i-be-concerned-about-wrongful-trading-if-my-company-goes-into-liquidation/

#wrongfultrading #CostOfLivingCrisis
#debt #business

Should I Be Concerned About Wrongful Trading If My Company Goes Into Liquidation?

#wrongfultrading #debt #insolvency #business #smallbiz #smallbusiness #money #personalliability #companydebt https://lnkd.in/eUxPUSaj

The moment things have got to such a pitch that he cannot pay 20 shillings in the pound, but he nevertheless thinks that if he goes on he may be able to retrieve his position,
#wrongfultrading #business

But the moment he becomes insolvent, then he is no longer going on at his own risk in case of failure; he is going on at the risk of his creditors, in case things do not mend, as he hopes they will. In my judgment, a man has no right to do that.

#wrongfultrading #business

#Wrongfultrading:

Cave J held:
“[A] man, of course, has a perfect right, as long as he is solvent, to determine that he will go on with a business, although it may be a losing business. He may trust that, before he becomes insolvent matters will change...
#business

Wrongful trading is not insolvent trading. #Wrongfultrading is trading on when you know or ought to know the company would go into #insolvent #liquidation.