https://www.taxtmi.com/caselaws?id=96592 Continued trading while the director knew there was no reasonable prospect of creditors being paid was treated as sufficient to infer intent to defraud creditors, exposing him to personal liability under the winding-up provisions. The court also treated the liability as capable of being fixed at a definite sum and charged against the director's debenture interest or security. On the misfeasance claims, the director was found liable on the evidence for excessive remuneration, unlawful payments, repayments to himself after insolvency, and the bank overdraft, as well as goods and money handled as receiver's manager, with repayment ordered to the liquidator together with interest. en-us Fri, 08 Apr 1932 00:00:00 +0530 Mon, 09 Jan 2012 16:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96592 Continued trading while the director knew there was no reasonable prospect of creditors being paid was treated as sufficient to infer intent to defraud creditors, exposing him to personal liability under the winding-up provisions. The court also treated the liability as capable of being fixed at a definite sum and charged against the director's debenture interest or security. On the misfeasance claims, the director was found liable on the evidence for excessive remuneration, unlawful payments, repayments to himself after insolvency, and the bank overdraft, as well as goods and money handled as receiver's manager, with repayment ordered to the liquidator together with interest. Case-Laws Companies Law Fri, 08 Apr 1932 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96592