Company directors who allow their business to carry on trading when insolvent face a wide range of penalties depending on which country they operate in. In the US, it can seem that nobody minds much. In the UK, they may be penalised for ‘wrongful trading’. In France they could go to jail.
INSOL International, the global trade body for insolvency specialists, has carried out the first ever survey into just what risks directors face around the world when they enter this area of uncertainty – the so-called ‘twilight zone’.
