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Directors’ duties revisited – the Madoff directors case

Chadbourne & Parke LLP

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United Kingdom October 18 2013

In his judgment handed down on 18 October1 Popplewell J took the opportunity to clarify the law
regarding payments by a company to third parties which may or may not have been suspicious and
where the company may or may not have been insolvent at the time. He looked long and hard at the
state of knowledge necessary to ground liability, at defences available to directors and whether the
court could relieve liability for innocent breaches.

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Filed under

  • United Kingdom
  • Insolvency & Restructuring
  • Litigation
  • Chadbourne & Parke LLP

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