Not only is the 'Duty' of Directors not to trade whilst insolvent but it is also required by law. ie it is illegal to trade whilst insolvent...... it is not just a Directors obligation.
and... the first person to be held accountable has to be the finance Director who has day to day intimate control over the accounts.
insolvency/in financial difficulty 101 asic, page-10
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)