The Court considered a Director’s duty to act in the interests of his company’s creditors. The Directors were said to have paid out an excessive dividend to put assets beyond the reach of its creditors.
Judges:
Longmore, David Richards, Henderson LJJ
Citations:
[2019] EWCA Civ 112, [2019] 2 All ER (Comm) 13, [2019] BCC 631, [2019] 2 All ER 784, [2019] WLR(D) 68, [2019] BPIR 562, [2019] 1 BCLC 347, [2019] Bus LR 2178
Links:
Statutes:
Insolvency Act 1986 423, Companies Act 2006 172(3)
Jurisdiction:
England and Wales
Cited by:
Appeal from – BTI 2014 LLC v Sequana SA and others SC 5-Oct-2022
Sequana’s subsidiary was liable to indemnify BAT for costs arising from the clean-up of a polluted river. The directors of the subsidiary resolved that it should pay a substantial dividend to Sequana, without – BAT says – leaving enough money in the . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Company
Updated: 06 October 2022; Ref: scu.633097