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United Kingdom Leading Case uncategorized

Re Produce Marketing Consortium Ltd (No 2)

(1989) 5 BCC 569; [1989] BCLC 520 (Ch D)
JurisdictionUnited Kingdom
CourtHigh Court of England and Wales (Chancery Division)
Year1989
StatusPersuasive authority

Key Principle

On a wrongful-trading claim under s.214 Insolvency Act 1986 a director is judged by both an objective standard (the general knowledge, skill and experience reasonably expected of a person carrying out his functions) and a subjective standard (his actual attributes), and the contribution ordered is primarily compensatory, measured by the depletion of the company's assets attributable to the continued trading.

Area of Law

i

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Cambridge Gas Transport Corp v Official Committee of Unsecured Creditors of Navigator Holdings plc [2006] UKPC 26; [2007] 1 AC 508 (PC)
Money Markets International Stockbrokers Ltd (in liquidation) v London Stock Exchange Ltd [2001] EWHC 1052 (Ch); [2002] 1 WLR 1150

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