Mr Stuart Broom

Stuart Broom

Updates

Insolvency & Restructuring

Liability of administrators for economic loss of a creditor
United Kingdom | 06 September 2019

In a recent ruling, the Court of Appeal confirmed that administrators owe a duty to all creditors and cannot be held personally liable for the economic loss of a creditor where no special relationship exists. In coming to its decision, the court showed a willingness to look at the commercial realities of the decisions that administrators must make on a daily basis.