340 Civil liability for fraudulent trading

(1) If in the course of —
fraudulent trading

(a) the winding up of a company; or

(b) the winding up of the business of or attributable to the cell of a
protected cell company in accordance with a receivership order
or administration order,

it appears that any business of the company or cell (as the case may be)
has been carried on with intent to defraud creditors (whether of the
company, of the cell or of any other person), or for any fraudulent
purpose, subsection (2) has effect.

(2) The Court, on the application of —

(a) the liquidator, administrator, or any creditor or member of the
company; or

(b) the administrator, receiver, or any creditor or member of the cell
of the protected cell company,

may declare that any persons who were knowingly parties to the carrying
on of the business in the manner mentioned above shall be liable to make
such contributions to the company‘s or cell‘s (as the case may be) assets
as the Court thinks proper.