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When can a UK director be personally liable for wrongful trading?

Where the company goes into insolvent liquidation or administration and, before that, the director knew or ought to have concluded that there was no reasonable prospect of avoiding it and did not take every step to minimise loss to creditors. The court can order a contribution to the company's assets measured by the increase in the deficiency after that point. The test is what a reasonably diligent person with the director's functions and actual knowledge would have known.

Dela sidan

Source

Source
Insolvency Act 1986, section 214
Acts
Insolvency Act 1986
Area
Company, accounts and insolvency
Checked
2026-09-22
Insolvency Act 1986Open the official text ↗

Questions

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