CIVIL RECOVERY FROM DELINQUENT DIRECTORS
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Authors
Williams, Richard
Abstract
This paper analyses the likely impact of new civil recovery powers that allow the State to launch personal liability proceedings against directors of failed companies. The paper presents the results of an analysis of the incidence of personal bankruptcy in a sample of over 450 wrongdoing directors. This analysis suggests that directors implicated in serious wrongdoing are more likely than the norm to be declared bankrupt by a factor of some 19,000. The paper presents this and other analysis to argue that new civil recovery powers are unlikely to result in a significant upswing in civil recovery for creditors of failed companies.
Description
Keywords
4801 Commercial Law, 4803 International and Comparative Law, 48 Law and Legal Studies, 16 Peace, Justice and Strong Institutions
Journal Title
Journal of Corporate Law Studies
Conference Name
Journal ISSN
1473-5970
1757-8426
1757-8426
Volume Title
15
Publisher
Informa UK Limited