Commercial And Chancery Bar: A mirage too far
Reflective loss has been described as a 'perplexing and developing area' of insolvency law. Where a bank's insolvency is at stake thanks to the failure of a company it has lent to, shareholders' protection in these circumstances is limited. Anthony Elleray QC reports
Banks are careful to secure their lending. Advances to a private company are normally secured by charges on assets and guarantees from the shareholders.
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