Director liability can be declared unlimited for company debts where fraudulent conduct during management led to insolvency. The liquidator's points of claim allege that a person who served as director or managing agent knowingly participated in the company's fraudulent conduct; following the Tribunal's winding-up order and an insolvency showing, the pleading seeks a declaration of unlimited liability for company debts, an account to fix the respondent's share of liability, payment of that sum, costs, and further relief, with particulars of office, period, remuneration and facts of fraud to be pleaded.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Director liability can be declared unlimited for company debts where fraudulent conduct during management led to insolvency.
The liquidator's points of claim allege that a person who served as director or managing agent knowingly participated in the company's fraudulent conduct; following the Tribunal's winding-up order and an insolvency showing, the pleading seeks a declaration of unlimited liability for company debts, an account to fix the respondent's share of liability, payment of that sum, costs, and further relief, with particulars of office, period, remuneration and facts of fraud to be pleaded.
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