Company insolvency and directors – things you wanted to know but were afraid of asking*
What are the key responsibilities of directors? What do they need to look out for when insolvency looms? Nitin Joshi, one of our partners, has worked in insolvency for over 40 years and in that time, he has seen pretty much everything you can in the world of insolvency. In this article he answers the […]
Fines, prison sentences and Director Disqualification for directors who abused the Bounce Back Loan Scheme
Director Disqualification, fines and prison sentences for directors who abused the Bounce Back Loan Scheme
Licensed insolvency practitioner Antony Batty advises directors to take early, formal advice if they are struggling to repay a BBL.
Overtrading V Wrongful Trading: what are the key differences?
Overtrading V Wrongful Trading: what are the key differences?
How can Insolvency Practitioners help directors avoid Overtrading and Wrongful Trading?
Is ignorance bliss? Why it is important for directors to document their actions if concerned they are insolvent.
It is important for directors to document their actions at insolvency.
Directors must comply with their duties as stated in the Companies Act 2006. Failure to do so can have serious consequences.
The Improper use of Customers’ Deposits
The Improper use of Customers’ Deposits
This is a ‘red flag’ offence at Insolvency. Our Insolvency Practitioners explain why and look at some examples.
Paying Dividends – The Consequences of Paying Illegal Dividends
Paying Dividends – The Consequences of Paying Illegal Dividends.
Directors’ Dividend payments will be scrutinised for legality by Insolvency Practitioners. This may lead to a Misfeasance Claim with dividends repaid. Tal to us for help and advice.
Did you know part of a director’s responsibility is to scrutinise their fellow directors?
Did you know part of a director’s responsibility is to scrutinise their fellow directors?
Case Study: agreeing that one director is the ‘lead’ for a company’s financial affairs does not remove the other directors from responsibility.
Insolvency Service gets new retrospective powers to investigate directors of dissolved companies and combat Bounce Back Loan Fraud
Insolvency Service gets new retrospective powers to investigate directors of dissolved companies and combat Bounce Back Loan Fraud.
This is the first piece of legislation in this area following the 2021 Budget. Director Disqualification might be an outcome.
Bounce Back Loans – The time has come to repay them. First letters being sent out NOW asking for repayment in May 2021
Bounce back loans are now due and could cause insolvency
Will directors of businesses that face insolvency & cannot repay BBLs automatically face personal liability & director disqualification?
Directors Beware – The Suspension of Wrongful Trading ended on 30th September
Directors Beware – The Suspension of Wrongful Trading has ended
The suspension of Wrongful Trading ended on 30th September. What does this mean for directors if their business becomes insolvent? What should they do?
