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Wrongful Trading

Wrongful Trading

When a business hits hard times it can be difficult for those involved to accept the warning signs and act appropriately.

Businesses that continue to trade amassing debt and fail to recognise financial difficulties, can risk allegations and investigations of wrongful trading.

The consequences of wrongful trading can be severe, with Directors personal assets at risk and the possibility of having to make a personal contribution to company assets to make up any shortfall owed to creditors, as well as even triggering insolvency proceedings before they may have been necessary.

If your business is facing charges of wrongful trading we can assist with swift and effective guidance. Our team will work with you to assess your options and create a defence strategy to represent your case at Court. We have a great deal of experience in financial law and can provide help to businesses facing financial crisis and support for the aftermath.

For more information please contact corporatelaw@taylor-rose.co.uk

Wrongful trading does not automatically result in insolvency; there are now a variety of ways in which to approach an insolvency case, but seeking legal advice as early as possible is always the best option.

We can assist with some of the following areas;

  • Assessment and guidance
  • Insolvency and financial crisis advice
  • Court representation
  • Protection of personal assets
  • Guidance on administration and winding up procedures
  • Minimisation of liability
  • Assistance with litigation and claims

For more information on how we can assist please contact corporatelaw@taylor-rose.co.uk

Useful Guides

Wrongful trading & financial difficulties
Wrongful trading & financial difficulties

Whilst wrongful trading may seem easy to define, the reality is often very different. There are many reasons why a company may find themselves facing charges of wrongful trading. Wrongful trading and fraudulent trading are often confused, but there is a key difference and this is the presence of dishonesty. Wrongful trading is defined as when a business is facing financial difficulties but continues to trade, amassing debts hoping that matters will improve. Whereas fraudulent trading is where a company trades knowing that they will not be able to pay creditors, but continues to do so anyway. Fraudulent trading is far more difficult to prove, as the prosecution will be required to refle...

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