ABSTRACT
Part D focused primarily on a doctrinal examination of the law as far as it requires directors to consider interests of creditors. This chapter aims to provide a theoretical examination of the subject, with the objective of establishing whether the duty can be justified as normative. The examination discusses those issues that pertain to any assessment of whether a duty should be imposed or not and also contains a consideration of arguments that have been or might be put forward by scholars who align themselves with the two leading schools when it comes to corporate law theory, namely the contractarian school and the progressive (or communitarian) school.
