Which of the following is a defence for a breach of trading while insolvent?
I the director had reasonable grounds to expect,and did expect that the company was solvent;
II the director took all reasonable steps to prevent the debt from being incurred;
III the director relied on a subordinate who they believed was competent and reliable and who was responsible for the information;
IV illness prevented the director from taking part in management.
A) I and IV;
B) I,II and III;
C) II,III and IV;
D) I,II,III and IV.
Correct Answer:
Verified
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