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Directors negotiating and contracting in the wake of their companies’ financial distress

Keay, Andrew 2015, Directors negotiating and contracting in the wake of their companies’ financial distress, Journal of strategic contracting and negotiation, vol. 1, no. 3, pp. 214-230, doi: 10.1177/2055563615610606.

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Title Directors negotiating and contracting in the wake of their companies’ financial distress
Author(s) Keay, Andrew
Journal name Journal of strategic contracting and negotiation
Volume number 1
Issue number 3
Start page 214
End page 230
Total pages 17
Publisher Sage Publications
Place of publication London, Eng.
Publication date 2015-09
ISSN 2055-5636
2055-5644
Keyword(s) Director's duties
creditors
insolvence
distress
Summary The majority of commercial contracts around the world are negotiated and made by directors onbehalf of their companies. Directors are subject to many obligations when they carry out thesefunctions. This paper examines one of the most important ones, and that is the duty that directorsowe when their company is in a state of financial distress. The duty owed is for directors to takeinto account the interests of their companies’ creditors at this time. The paper considers whendirectors are subject to this duty and what they must do when negotiating and contracting for theirfinancially distressed companies, and considers some of the ramifications for directors and thosewho deal with them.
Language eng
DOI 10.1177/2055563615610606
Field of Research 1801 Law
Socio Economic Objective 970118 Expanding Knowledge in Law and Legal Studies
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, The Author
Persistent URL http://hdl.handle.net/10536/DRO/DU:30091929

Document type: Journal Article
Collection: Law
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