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Wrongful trading before the English High Court

Re Continental Assurance Company of London plc (Singer v. Beckett)

Published online by Cambridge University Press:  04 May 2004

Thomas Bachner
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Abstract

A recent case in the English High Court, Re Continental Assurance Company of London plc (Singer v. Beckett), constitutes the first judicial pronouncement on wrongful trading (s. 214 of the Insolvency Act) which concerns a major company. The case should render us cautious about the alleged superiority of wrongful trading over creditor protection regimes in other European jurisdictions, notably the German Insolvenzverschleppungshaftung, and the consequential idea of the European Commission to propose a new directive on wrongful trading.

Keywords

Insolvency Actcase lawwrongful tradinginsolvencySinger v. Beckettcompany lawcreditor protectionEnglish High Courtdirectors' dutiesEuropean legal harmonization
Type
Case Notes
Information
European Business Organization Law Review (EBOR) , Volume 5 , Issue 1 , April 2004 , pp. 195 - 199
Copyright
© T.M.C. Asser Press 2004

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