Originally Posted by
Alex Whittingham
Well, define illegal. If the directors believe the company can continue trading despite its rather poor balance sheet position they can continue. It is only if they get to a position that they either knew or should have known that there was no reasonable prospect of the company avoiding insolvency and they carry on regardless that 'wrongful trading' arises.
'Define illegal'- trading while insolvent! They appear to be insolvent, with little prospect of trading their way out.
Last edited by mavisbacon; 5th Jan 2024 at 16:49.
Reason: Kindness