LexisLibrary and LexisPSL
Sign up for a free trial today and get full access for a weekTrial
A liquidator who seeks an order against directors on the basis that they have engaged in wrongful trading must plead a date on which this conduct occurred. Recently courts seemed to accept that liquidators can nominate dates in the alternative (Roberts v Frohlich  EWHC 257 (Ch)  2 BCLC 635; Re Kudos Business Solutions  EWHC 1436 (Ch) at )). Furthermore dates can be estimates. For instance, in Roberts v Frohlich the case pleaded was that the wrongful trading occurred ‘around 1 July 2004 (or alternatively on or around 1 September 2004)’. In this case the judge found that wrongful trading had occurred by 14 September 2004 and allowed the liquidator’s claim.
See further: Commentary to Rule 214 of the Insolvency Act 1986 in Insolvency Legislation: Annotation and Commentary Online, Louis Doyle and Andrew Keay (2012).
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...