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Article 19 - Duties of directors where there is a likelihood of insolvency

Article 19
Duties of directors where there is a likelihood of insolvency

Member States shall ensure that, where there is a likelihood of insolvency, directors, have due regard, as a minimum, to the following:

((a))

the interests of creditors, equity holders and other stakeholders;

((b))

the need to take steps to avoid insolvency; and

((c))

the need to avoid deliberate or grossly negligent conduct that threatens the viability of the business.

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