{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F5596bdfa-d841-4ef9-9f46-5eb845507e0a","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"<iframe style=\"width: 100%; height: 200px;\" title=\"Directors' Duties during troubling times\" frameborder=\"0\" scrolling=\"no\" allow=\"clipboard-write\" seamless src=\"http://player.captivate.fm/episode/5596bdfa-d841-4ef9-9f46-5eb845507e0a\"></iframe>","title":"Directors' Duties during troubling times","description":"Welcome to the first episode of our second season of the Offshore Litigation Take 10 podcast. \n\nIn this episode, Julie Engwirda and Ian Mann discuss directors\u2019 duties and obligations where a company is experiencing financial pressure. \n\nKey Takeaways: \n\n2020 has seen the global economy affected in unprecedented ways. With major loss of revenue, global stock market crashes, and millions of jobs affected, directors across all sectors are having to reassess their businesses and plan for an uncertain future. \nDirectors will need to adapt to the changing landscape to ensure survival of their businesses, with an emphasis on maximising cash flow whilst minimising expenses. \nHaving cash flow issues does not necessarily mean a company is insolvent. Many common law jurisdictions give statutory guidance to directors when considering solvency issues. \nWhen directors know or ought to know that the company is, or is likely, to become insolvent, they owe duties to creditors (instead of shareholders). \nRisks:  \nBVI: insolvent trading. \nCayman Islands: fraudulent trading.","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/555d98df-7366-4ef7-989c-7927360c56f7/Take-10.png"}