1 INTRODUCTION: DIRECTORS’ DUTIES IN A CRISIS

Relief from directors’ duties to avoid trading whilst insolvent has been a common global response to the economic crisis precipitated by the COVID-19 pandemic.¹ These duties are configured in legislation in different ways, depending on the jurisdiction, including as a prohibition on insolvent, wrongful or fraudulent trading, or an obligation to file for insolvency.² These responses raise questions about the role of insolvency law in a crisis and the ultimate goal of protecting creditors as the explicit driver for these duties. COVID-19 has killed almost 2 million people globally at the time of writing.³ This extraordinary situation led governments worldwide to prevent businesses operating …

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