Chapter 3: Governance in the twilight zone
The basic theme of this chapter will be to examine how the aforementioned general principles of corporate management/governance mutate once a firm becomes insolvent (or doubtfully solvent), even though no formal insolvency proceedings have actually been commenced in respect of it. Particular emphasis will be placed upon the implications of the introduction of s. 172 of the Companies Act 2006 (an innovation in UK corporate law) into this environment.
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