New Arrival Directors and Creditors: Law and Liability

Directors and Creditors: Law and Liability

Author: John M. Wood; Sofia Ellina; John Tribe
Publisher: Oxford University Press
ISBN: 9780198932772
Published In: March 2026
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

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.

PART A: Introduction

1:Introduction, John M. Wood, Sofia Ellina, and John Tribe

PART B: Sequana: Implications and Challenges

2:Insolvency: What it Means and Why it Matters for Directors' Duties, Sarah Paterson

3:The Unexplored Potential of Section 423 of the Insolvency Act 1986, David Milman

4:The Interests of Creditors, Paula Moffatt

5:Oscillating between Shareholder and Creditor Interests in Limited Liability Companies, Kayode Akintola

6:The Relationship between Shareholder Ratification and Duomatic Principles and the Creditor Interest Duty post Sequana, HHJ Mark Cawson KC and Ian Tucker

7:The Modern Company as a Separate Legal Entity, Susan Watson

8:Shifting and Surrounding Sands: Comparative Views on Director Duties in the Zone of Insolvency, Bruce Alan Markell

9:The Legacy of Sequana, Joseph Curl KC

PART C: Broader Issues Concerning Directors and Creditors

10:What are the Actual Fiduciary Duties for a Director?, Clare Stanley KC

11:A Body to be Kicked: The Liability of a Company Director for a Company's Costs, Stephen Baister

12:Resolving the Stakeholder Indeterminacy Problem in the Communitarian Bankruptcy Debate: A post Sequana Analysis, John Tribe

13:Addressing the Knowledge Gap in Directors' Insolvency Duties and Liabilities, Rebecca Parry, Alex Kastrinou, and Georgette Ellis

14:Director Liability: Behind the Veil and the Scope for Accessory Liability, Andrew Vinson

15:Wrongful Trading: Scope and Challenges, Sofia Ellina

16:Fraudulent Trading: Considerations for Officeholders from an Insolvency Practitioner's Perspective, Andrew Goodson, Stephen Hunt, and Frank Turnbull

17:Creditor Duty and Corporate Sustainability, Rafael Savva

18:Creditors' Redress Against Directors of Insolvent Companies, Anja Lansbergen-Mills and Eleanor Temple

19:Conceptual Challenges for Creditors of Companies, Jonathan Hardman

20:Directors' Duties in Climate Change Litigation, John M. Wood

21:Rethinking Directors' Liability: An Integrative 'Deepening Theory' Approach, Neeti Shikha and Emily Reeve

PART D: International Perspectives

22:The International Complexities of Section 423 of the Insolvency Act 1986 in the Sequana Case, Gerard McCormack and Oriana Casasola

23:The Relationship between the Creditors' Duty and Other Duties of Directors, Jason Harris

24:Directors' Duties, the 'Initiation Problem', and SME Restructuring in Australia: The Law and Non-Law Factors at Play, Akshaya Kamalnath and Preeti Nalavadi

25:Steering Through Storms: Directors' Duties During Business Distress, Juanitta Calitz

26:The Creditor Duty in the European Union: Insights from the Preventive Restructuring Directive, Philip Gavin and John Quinn

PART E: Conclusion

27:Conclusion, John M. Wood, Sofia Ellina, and John Tribe