Recent figures released by InsolvencyJournal.ie show that the rate of company failures is set to exceed 2010 levels, a worrying trend.
A company is deemed to be insolvent when it is unable to pay its debts as they fall due. For directors of companies facing this situation, the legal responsibilities and actions required can be substantial. When a company is solvent, directors must act in the interests of its shareholders.
However, when a company is...
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