In England, parts of the Commonwealth and the United States, courts have held that as part of directors’ duties to their companies, directors must, in their decision-making Custom Paper

In England, parts of the Commonwealth and the United States, courts have held that as part of directors’ duties to their companies, directors must, in their decision-making, when varying degrees of financial difficulty exist, take into account the interests of the creditors of their companies. Commentators are sharply divided over whether or not directors should or should not be subjected to such a responsibility" (from. Keay, A. ‘Directors’ Duties to Creditors: Contractarian Concerns Relating to Efficiency and Over-Protection of Creditors’ (2003) 66 Modern Law Review 665 at 665-666). Discuss.

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