UK Court of Appeal Indicates that Victims of Fraud Can Target Third Parties

Adam Silver, Ricci Potts and Richard Herstell of Dechert summarise a recent decision where the Court of Appeal found that third parties can be held accountable under section 213 of the Insolvency Act 1986 – which enables a liquidator to seek contributions from individuals who have been “knowingly parties to the carrying on of the business” in a fraudulent manner – even if they do not exercise management or control over a company.

Read more.