As therein indicated, under section 143 of the Companies Act, a director must act in the way which he considers, in good faith, would be most likely to promote the success of the company for the benef...
Where a company is in financial difficulties or otherwise insolvent, the director’s duty shifts to the interest of the creditors of the company. ...
The Insolvency Act, 2015 (hereinafter referred to as “the Act) introduced the option of placement of a company under administration as opposed to the making of a liquidation order as soon as a compa...
The existence of any business depends on how best it is managed, and the strategies put in place to ensure its eternity. To stay in business and possibly grow, companies take credit which in some inst...
Bankruptcy simply refers to the condition of a person who is unable to pay his/her debts as and when they fall due. According to the Insolvency Act (hereinafter “the Act”), it can only occur upon ...
What are Prejudicial Dispositions? This refers to a disposition of land either by sale, charge, transfer, partition, exchange, assignment, surrender or a lease by a debtor who is unable to pay its c...
A company is considered insolvent when it is unable to pay its debts when they fall due or when it is proved to the satisfaction of the Court that the value of the company's assets is less than the am...
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