The Insolvency Service Legal Services Directorate is the lead criminal enforcement agency for insolvency related fraud and corporate misconduct. It is the prosecuting authority for breaches of insolvency and company law referred to them by other teams within the Insolvency Service, by Companies House and other agencies. They also deal with miscellaneous criminal matters arising within the Department for Business, Innovation, Science and Trade. The Insolvency Service has oversight of the full range of investigation and enforcement action that is being pursued.
The Secretary of State may appoint investigators under sections 431 and 432 of the Companies Act 1985 (CA 1985). The investigation will conclude with a report which may or may not be made public.
In addition under CA 1985, s 447 investigators may be authorised to require a company to provide documentation to assist an investigation and to require certain persons to answer questions relating to their contents. Failure to comply with a request for assistance without reasonable excuse may constitute a contempt of court.
See Practice Note: Insolvency Service criminal prosecutions which explains the scope and powers of LSD in combatting...
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
The Care Quality Commission (CQC) has prosecuted Suzanne Kirkbride, registered manager of Hall Lane Resource Centre, for failing to provide safe care...
The Environment Agency (EA) and the Department for Environment, Food & Rural Affairs (Defra) have published annual heat maps identifying suspected...
The Office of Financial Sanctions Implementation (OFSI) has imposed a monetary penalty of £4,732,830.58 on Citibank, N.A., London Branch (CBNA London)...
The Department for Environment, Food & Rural Affairs (Defra), the Ministry of Housing, Communities and Local Government and Natural England have...
Fraudulent trading under section 993 Companies Act 2006Fraudulent tradingFraudulent trading by a company is an offence prohibited by section 993 of the Companies Act 2006 (CA 2006). Section 9 of the Fraud Act 2006 (FrA 2006), makes fraudulent trading by sole traders, partnerships and trusts and
What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a
If a rentcharge is shown as being informally exonerated on title information, does this apply to the current registered owner? Or does the informal exoneration only apply to the parties to the document which informally exonerated the rentcharge?This Q&A considers the situation where, at some point
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
0330 161 1234