Insolvent Trading

[T]his is the first book that I have reviewed that sets out to deal specifically with the problems that arise when Companies are faced with the problems of whether or not they may continue to trade due to insolvency and to the ultimate liabilities of Directors under Part 5.8 of the Corporations Law.... At the heart of this book is the fact that Company Directors are responsible both in a Civil and in a Criminal sense for permitting that Company to continue to trade when it is unable to pay its debts as and when they fall due. One of the prime difficulties is in determining when that position has been reached and much of the value of this book arises because of its discussion of the different cases in which this issue has been considered.... The differences of judicial opinion as to when such an action may be brought and as to when the requirements for success have been established are discussed and should assist in providing advice in future cases as to when and how such proceedings can be taken. On the other hand Company Directors should be presented with a copy of this book as compulsory reading, upon assuming office so that they might better understand their obligations as directors. This is a very valuable exposition on a difficult area of the Law. - The Law Letter (Law Society of Tasmania)Bevan, Christopher is the author of 'Insolvent Trading', published 1994 under ISBN 9781862871380 and ISBN 1862871388.