According due credit to creditors’ interests: Examining directorial duties in near insolvency and insolvency scenarios
By: Viswanathan, L . Bisht, Animesh and Sangani, Karan
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Material type: 
BookPublisher: Vikalpa: The Journal for Decision Makers Description: 50(3), Jul-Sep, 2025: p.191-210.Subject(s): Directors, Fiduciary deities, Creditor duty, Insolvency and bankruptcy code, Insolvency
In:
Vikalpa: The Journal for Decision MakersSummary: Two recent developments in the United Kingdom and Ireland have reignited the debate regarding the scope of the directors’ fiduciary duties during financial distress when the creditors’ economic interests in the company’s assets assume greater significance. This paper examines these developments and discusses the reorientation of the directors’ fiduciary duties that is necessary in near insolvency and insolvency scenarios from shareholder interest primacy to safeguarding the creditors’ interests. This paper further discusses the implications and workability of such position in the Indian context to examine how the directors’ fiduciary duties towards creditors can be formalised under the Indian regime.- Reproduced
https://journals.sagepub.com/doi/full/10.1177/02560909241306533
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | 50(3), Jul-Sep, 2025: p.191-210 | Available | AR137504 |
Two recent developments in the United Kingdom and Ireland have reignited the debate regarding the scope of the directors’ fiduciary duties during financial distress when the creditors’ economic interests in the company’s assets assume greater significance. This paper examines these developments and discusses the reorientation of the directors’ fiduciary duties that is necessary in near insolvency and insolvency scenarios from shareholder interest primacy to safeguarding the creditors’ interests. This paper further discusses the implications and workability of such position in the Indian context to examine how the directors’ fiduciary duties towards creditors can be formalised under the Indian regime.- Reproduced
https://journals.sagepub.com/doi/full/10.1177/02560909241306533
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