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wrongful trading

   Also found in: Wikipedia 0.09 sec.

wrongful trading

Company carrying on business at a time when it is unable to avoid insolvent liquidation. In the event of liquidation, creditors can apply to a court to have a director of the company held personally responsible for the debts of that company. If it can be shown that the director was aware that the company would become insolvent, yet continued trading, then the court may order the director to make a contribution to the company's assets.



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