Directors' Disqualification
A company director can be disqualified from being a director for many reasons. You can be disqualified from being a director if you do not meet your legal responsibilities or if you are reported for ‘unfit conduct’.
If your company is involved in insolvency proceedings, or there has been a complaint, the Insolvency Service may investigate your company. As well as the Insolvency Service, Companies House, the Competition and Markets Authority, the Courts and a Company Insolvency Practitioner may take you to Court to disqualify you if they believe you have breached your duties as a director. You can defend the case in court if you disagree with the claims.
If you are disqualified, you will be disqualified for up to 15 years. During disqualification, you cannot be a director of any UK-registered company, or a company registered overseas with connections to the UK, nor will you be allowed to be involved in the forming, marketing or running of a company.
We can provide experienced advice in connection with any such proceedings brought against you.
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Accused of Wrongful Trading
If you are a director of an insolvent business, and you realise that you need to try and somehow trade out of insolvency, you must take steps to avoid seeming personally liable for wrongful trading.
Wrongful trading occurs when you as directors have continued to trade when you know or should have known that there was no reasonable prospect that the company would avoid insolvency or administration. We can help you avoid potential personal liability and guide you through the steps that you need to take in this situation.
We can also help you defend any claims brought against you for wrongful trading.
DTI (Department of Trade and Industry) Investigations
If your company has gone into liquidation or administration, every Insolvency Practitioner appointed must report on your conduct as a director to the Department of Trade and Industry.
In the event that there has been any wrongdoing and the DTI decides to take action against you for disqualification, you have options, and you should simply not just accept the situation you are facing. We are highly experienced in defending such proceedings.