Fraudulent Trading: Characteristics And Deficiencies

In tandem with the legal position under English law, albeit with certain structural variations which will be addressed in this article, fraudulent trading in Cyprus is both a civil and criminal concept which, in effect, circumvents the principle , as propounded in Salomon v Salomon [1897] AC 22, that a company has an artificial legal personality which is separate and distinct from that of its shareholders (suffice it to remind ourselves that the doctrine has historically evolved to also encompass directors, by virtue of the fact that in small private companies, or so-called quasi-partnerships, there is, more often than not, no substantive delineation between ownership and management).