Directors' duties in the context of insolvency

Viac o knihe

Focusing on directors' duties in the context of corporate insolvency, this essay examines New Zealand's Companies Act 1993, particularly sections 131, 135, and 136. It critiques the drafting of insolvent trading provisions and discusses their importance for creditor protection despite identified flaws. The paper also explores remedies for breaches of directors' duties under section 301, noting the limitations faced by individual creditors. Ultimately, it argues against introducing a separate duty owed directly to individual creditors, as it conflicts with core principles of Insolvency Law.