Most directors don’t wake up thinking about insolvency law. They think about cash flow, customers, employees, deadlines, and keeping the business running. Insolvency only enters the picture when things start going badly. Sales drop. Bills stack up. Banks stop returning calls. That’s usually when legal duties suddenly become very real. Under normal conditions, the rules are strict. When a company is close to failing, director's duties in insolvency shift. The focus moves away

The idea of reviewing balance sheets and approving strategy is no longer the only thing that takes place in the modern boardroom....