Keyword Analysis & Research: section 212 insolvency act 1986

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What is insolvency and misfeasance?

Section 212 of the 1986 Insolvency Act addresses the legal concept of misfeasance and makes a director personally accountable to pay back to the company the amount of the loss caused by any misfeasance to the extent that the court so orders. The following abridged case summary on insolvency and misfeasance highlights the principle involved.

What is section 212?

Where a company is being wound up (i.e. is in liquidation), section 212 allows the court to order repayment of sums that have been misapplied or retained by an officer in their management of the company. This section known as "misfeasance" and cover a wide range of conduct by directors.

What is IA 1986 s 212?

IA 1986, s 212 itself (unlike wrongful and fraudulent trading claims brought under IA 1986, ss 213–214) does not create a separate cause of action but merely provides an alternative IA 1986 procedure for existing causes of action against certain individuals.

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