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The director took all reasonable steps to stop the insolvency
A director who takes all reasonable steps to stop the company from incurring a debt can also claim a defence. Notably, the legislation specifically requires the Court to consider the specific steps taken by the director to appoint an administrator.
Classically, where a director becomes aware of insolvency and attempts to convince the company's board that the company should be placed into some form of insolvent administration, that director has a chance of making out this defence.
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