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Thanks anon 9.25.

The SRA have been in a mess over this one ever since Samantha Barrass announced at the COLP and COFA conference three years ago that the SRA would come down hard on any firm that did not immediately wind down if facing insolvency. I work in turnaround and was amazed by the comment. As long as the Partners believe that trading through would improve the position of the creditors then it is correct to trade on and not wrongful. Infact 90% of businesses who are technically insolvent quite correctly trade on. Glad to see that the SRA are backing out of an area they don't understand.

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