The Supreme Court has handed down an important ruling (BTI -v- Sequana) on whether company directors owe a duty to consider or act in accordance with the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk, of insolvency (“the creditor duty”).
Many registered charities are structured as limited companies (almost always limited by guarantee) and so this ruling is of importance to much of the charities sector....
Supreme Court confirms creditor duty in BTI v Sequana, Stuart Nevin (shoosmiths.co.uk)
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