An article from Out-Law on 28 February said that the High Court has ruled that a director’s fiduciary duties survive a company’s entry into administration or voluntary liquidation. In the case in question, a liquidator was successful in his application in respect of company property sold at undervalue and payments made after the company entered administration. The decision confirms that, while a director’s powers cease on insolvency, their fiduciary duties remain – even when not exercising those powers themselves.
https://www.pinsentmasons.com/out-law/legal-updates/directors-duties-survive-company-insolvency
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