Antecedent Transactions Solicitors, London. International.

If, during the course of a liquidator’s or administrator’s investigations into the events and circumstances of the company’s insolvency, it is apparent that the directors of the company have profited from their position as directors (other than by remuneration), or have used company property for their own benefit, it is incumbent on the liquidator or administrator to take steps to recover that property. 

Such conduct by the directors may also expose them (in a liquidation only) to a misfeasance claim by the liquidator under Section 212 of the Insolvency Act 1986.

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