Wrongful trading is a type of civil wrong found in UK insolvency law, under s 214 Insolvency Act 1986. It was introduced to enable contributions to be obtained for the benefit of creditors from those responsible for mismanagement of the insolvent company.
Read more about Wrongful Trading: The Insolvency Act 1986, Who May Be Liable?, What Is Expected of Directors?, The Amount of The Award, Barriers To Wrongful Trading Actions, Text of Section 214, See Also
Famous quotes containing the word trading:
“His farm was “grounds,” and not a farm at all;
His house among the local sheds and shanties
Rose like a factor’s at a trading station.”
—Robert Frost (1874–1963)