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mason v lewis. This is a lengthy fact to the case. It is an important case that went to the court of appeal. Again we
mason v lewis. This is a lengthy fact to the case. It is an important case that went to the court of appeal. Again we have this trickster person causing the problem. Vulnerable people having to bare the liabilities. Again that is the nature of being director of a company. We have various point coming down through. We might say now is the time, we see this phrase take us sober assessment? People very optimistic about their companies. The put alot of money and time in it. They think they we can save it by carrying on trading. That is not sober assessment unless you get more capital in.at some point you have to sit back and make dispassionate decision, that this is my baby and my business but i am going to liquidate cause if you carry on after that then you're likely to be helpless responsible. You need to know when that point is. The prob is that we dont have any safe harvard rule. We dont have a rule that says if you do that, you will be fine. If you do that, you wont be fine. You have to rely on the core cases to tell us when the courts have felt that companies have gone into illegitimate trade. We can pick feb 2000, lost key clients, maybe that is the answers where some directors go? Maybe that is the point? Accountant report say you got financial difficulties - if you got profesional person come and say you have prob, and you carry on afterward, then you have pretty good reason from saying that
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