New guidance on Insolvency Service investigations

New guidance on Insolvency Service investigations

Original news:

A director whose conduct is found to be unfit by the Insolvency Service can be disqualified from being director of another company. The Insolvency Service has produced a guide on what happens during an Insolvency Service investigation into companies that have entered into formal insolvency proceedings - including administration, administrative receivership, voluntary and compulsory liquidation.

Summary

Director disqualification

In most cases directors who have been involved in a failed company are able to try again with another company. However, if the Insolvency Service finds evidence that a director's conduct has been unfit or evidence of wrongdoing

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About the author:
Eleanor Stephens
Eleanor qualified in 1998 into the insolvency team at ASB law. She became a partner in 2005, and went on to head up the Recovery & Insolvency team. Whilst traditionally specialising mainly in contentious corporate insolvency matters, in recent years she has moved into the non contentious arena, in particular specialising in company administrations.