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Directors’ Duties in Respect of Insolvency

August 2010

Insolvency can be determined by reference to two different tests. The first of these is where the liabilities of the company (both actual and contingent) exceed the assets (balance sheet test). The second is where the company cannot meet its liabilities as they fall due (cash flow or commercial insolvency).

 

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Directors’ Duties in Respect of Insolvency

 

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