Phoenix trading

SN04083

Published 28/03/2017 Amended 28/03/2017

Topics:  Regulation

Summary

This Library briefing paper looks in detail at the legality of phoenix trading and at the personal liability of directors to the creditors of an insolvent company. In addition to the Insolvency Act 1986 (as amended) and the Enterprise Act 2002, this note looks at new provisions contained in the Small Business Enterprise and Employment Act 2015, which received Royal Assent on 26 March 2015.

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http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN04083