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directors dutiesdirectors loan accountcreditors interests
GHLM Trading Limited v Maroo
[2012] EWHC 61 (Ch); [2012] 2 BCLC 369
Key Principle
Once it is shown that a director has received the company's money, the burden lies on the director to justify the payment and, where debit entries to his loan account are correct, to justify any credit entries on it; and a director owes a duty, where the company is or may be insolvent, to have regard to the interests of the creditors as a class.
Area of Law
General
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