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Another important area in relation to liquidation concerns penalisation of directors and officers for misfeasance under s 212 IA 1986. This covers the situation where the person who has been an officer, liquidator, administrator or administrative receiver or concerned in the promotion, formation or management of the company has misapplied or retained or become accountable for the company’s money or property or has been guilty of any misfeasance or breach of any fiduciary or other duty in relation to the company. Fraudulent trading Section 213 IA 1986 provides that the court may make an order against a person to make a contribution to the company’s assets where that person has used the company to trade fraudulently. Actual deceit must be proved but the section is not limited to officers of the company.