Where a
company has carried on business with intent to
defraud creditors, or for any fraudulent purpose. It
is a criminal offence and those involved can be made
personally liable for the company's liabilities.
(Please Note: The
definitions are not intended to be exhaustive
summaries of the Law. They are based on material
from The Insolvency Act 1986 , and other Acts
dealing with this subject.)
Budgeting at christmas 
