The following Restructuring & Insolvency guidance note Produced in partnership with Katherine Hallett of Three Stone Chambers provides comprehensive and up to date legal information covering:
Principally, disqualification proceedings are brought against directors of companies. Proceedings are brought pursuant to the Company Directors Disqualification Act 1986 (CDDA 1986).
The CDDA 1986 provides for directors who have been found guilty of misconduct to be disqualified from acting as a company director for a specified period.
In summary, there are a number of grounds upon which disqualification proceedings may be brought against directors:
conviction for an indictable offence in connection with a company
persistent breaches of companies legislation in connection with returns etc
fraud etc during the winding-up
conviction for default regarding returns etc
conviction abroad in connection with a company
unfit behaviour in connection with an insolvent company
breach of competition law
Furthermore, disqualification proceedings may be brought against any person instructing an unfit director.
In addition, an undischarged bankrupt is automatically disqualified as a director.
This Practice Note does not directly cover disqualification proceedings against directors of companies.
For further reading, see Practice Note: How can a director be disqualified as a company director?
This Practice Note covers disqualification proceedings specifically against partners.
There are three types of partnerships:
Partnerships under the Partnership Act 1890 (PA 1890)
Limited partnerships under the Limited Partnerships Act 1907 (LPA 1907), and
Limited liability partnerships (LLPs) under the Limited Liability Partnerships Act 2000 (LLPA 2000)
Unless otherwise stated, in this note
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