Directors and Creditors
Law and Liability
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Product details:
- Publisher OUP Oxford
- Date of Publication 31 March 2026
- ISBN 9780198932772
- Binding Hardback
- No. of pages656 pages
- Size 250x175x40 mm
- Weight 1254 g
- Language English 692
Categories
Short description:
This volume examines directors' duties and creditor interests in corporate and insolvency law, centred on the Supreme Court's Sequana decision. It explores key legal concepts, contemporary challenges, and international developments, offering a comparative and practical perspective.
MoreLong description:
This new work explores the evolving challenges faced by directors and creditors in both corporate and insolvency contexts. Structured in five parts, it offers a rigorous yet practical examination of key legal developments and their implications for practice and policy.
The volume opens with a foundational overview of the legal principles that shape the director-creditor relationship, before turning to the landmark Supreme Court decision in BTI 2014 LLC v Sequana SA and others [2022] UKSC 25. This pivotal case has reshaped the legal landscape, influencing how courts and practitioners approach limited liability, wrongful trading, transactional avoidance, and directors' duties—particularly the creditor duty and the definition of insolvency.
Subsequent chapters broaden the scope to address contemporary issues beyond Sequana, many of which are relevant to both solvent and insolvent companies. Topics include fiduciary duties, directors' personal liability, fraudulent and wrongful trading, corporate sustainability, creditor vulnerability, and the growing impact of climate change litigation.
The discussion then extends to a global scale, examining how Sequana has influenced legal thinking across jurisdictions including the EU, Australia, the US, Singapore, Hong Kong, and Canada. With a focus on both common law and civil law systems, the book offers a comparative perspective on global efforts to refine insolvency frameworks and harmonise corporate governance standards.
Combining detailed legal analysis with practical insights, Directors and Creditors: Law and Liability is an essential resource for legal practitioners, academics, and policymakers navigating the complexities of modern corporate and insolvency law.
Table of Contents:
PART A: Introduction
Introduction
PART B: Sequana: Implications and Challenges
Insolvency: What it Means and Why it Matters for Directors' Duties
The Unexplored Potential of Section 423 of the Insolvency Act 1986
The Interests of Creditors
Oscillating between Shareholder and Creditor Interests in Limited Liability Companies
The Relationship between Shareholder Ratification and Duomatic Principles and the Creditor Interest Duty post Sequana
The Modern Company as a Separate Legal Entity
Shifting and Surrounding Sands: Comparative Views on Director Duties in the Zone of Insolvency
The Legacy of Sequana
PART C: Broader Issues Concerning Directors and Creditors
What are the Actual Fiduciary Duties for a Director?
A Body to be Kicked: The Liability of a Company Director for a Company's Costs
Resolving the Stakeholder Indeterminacy Problem in the Communitarian Bankruptcy Debate: A post Sequana Analysis
Addressing the Knowledge Gap in Directors' Insolvency Duties and Liabilities
Director Liability: Behind the Veil and the Scope for Accessory Liability
Wrongful Trading: Scope and Challenges
Fraudulent Trading: Considerations for Officeholders from an Insolvency Practitioner's Perspective
Creditor Duty and Corporate Sustainability
Creditors' Redress Against Directors of Insolvent Companies
Conceptual Challenges for Creditors of Companies
Directors' Duties in Climate Change Litigation
Rethinking Directors' Liability: An Integrative 'Deepening Theory' Approach
PART D: International Perspectives
The International Complexities of Section 423 of the Insolvency Act 1986 in the Sequana Case
The Relationship between the Creditors' Duty and Other Duties of Directors
Directors' Duties, the 'Initiation Problem', and SME Restructuring in Australia: The Law and Non-Law Factors at Play
Steering Through Storms: Directors' Duties During Business Distress
The Creditor Duty in the European Union: Insights from the Preventive Restructuring Directive
PART E: Conclusion
Conclusion
