Company Directors Not Clever Enough
Churchill and another v First Independent Factors
and Finance Ltd [2006] EWCA Civ 1623
CA
30 November 2006
Daily Law Notes Summary
For company directors to avoid personal liability for debts under
ss 216 and 217 of the Insolvency Act 1986, r 4.228 of the
Insolvency Rules 1986 required prospective notice to be given to
the creditors of an insolvent company where a similarly-named new
company (a “prohibited name”) acquired the assets of the
liquidated company and was under the management of the same
directors.