n Without Prejudice - Directors' obligation to notify creditors of financial distress : company law
|Article Title||Directors' obligation to notify creditors of financial distress : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Nov 2011|
|Pages||21 - 22|
The new Companies Act creates certain onerous obligations and duties on company directors. One of these is to ensure that a director does not trade the business of his or her company recklessly, negligently or conduct the company's business with the intention of defrauding a creditor.
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