This article, that was recently published in INSOL, provides a comparison of directors’ duties between several European jurisdictions – England and Wales, Germany, Italy, the Czech Republic and the Slovak Republic.
It explores the role of directors and their general duties and obligations in a going concern scenario and examines how those duties might change as a business moves into a period of distress or becomes insolvent.
As noted in the article there is one feature that is common to most jurisdictions and that is the obligation not to continue trading if a company is insolvent.