In the CPD Department at NTI we have just pushed 'Publish' on a huge case from the Supreme Court, changing the way we will all look at the definition of 'fiduciary duty'.
It reported a case yesterday (5 October) from the the House of Lords. In it the Lords and Lady Justices ruled (for the first time) that the fiduciary duty of company directors extends beyond members and stakeholders to creditors if the company is verging on insolvency, or it is 'imminent'. Of course, on the day the case was reported subscribers could hear the law unfold as it changed with NTI.
Eight CPD TAPs
Of the other eight TAPs last month NTI reported on whether sole directors can appoint Administrators (despite the fact it is 'ultra vires' the Model Articles in the Companies Act) and a couple of really meaty Bankruptcy cases (one of which dealt with the grounds on which a court can dismiss a petition if a mental disability is claimed).
It was a big month for fuel and energy support for businesses as well as residential properties and NTI TAPped the latest as the news evolved. There was a big case about Opus and the Russians - how can Administrators keep within the tightest of sanctions against the rogue state?
At the beginning of the month we gave you a live debate on the call for evidence on the personal insolvency framework.
Eight perfect reasons to download and listen to CPD TAP on your commute or coffee break.
Contact ah@nti.co.uk for more information or go online at nti.co.uk
