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R v Grantham [1984] 1 QB 675 – S 332 Companies Act 1948 (s 993 CA, s 9 FA).

- fraudulent trading.
- “defraud” and “fraudulent purpose” denote actual dishonesty involving, according to current notions of fair trading among commercial men, real moral blame.
- D may act dishonestly and fraudulently if he realises at the time debts are incurred that there was no reason to think that funds would become available to pay the debt when it became due or shortly thereafter.
- not necessary to prove that there was no reasonable prospect of the company’s creditors ever receiving payment of their debts.

undefined: unpaid

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