Q&As

What is the obligation on past directors to complete the Directors' Questionnaire on insolvency?

read titleRead full title
Copyright © 2025 LexisNexis
Published by a LexisNexis Restructuring & Insolvency expert
Published on: 23 May 2017

Where a company enters into one of the applicable Insolvency processes (being, under section 234(1) of the Insolvency Act 1986 (IA 1986), administration, Administrative Receivership, liquidation, or provisional liquidation), any person may be required by the court to deliver up company property, books, papers or records to which the company appears to be entitled. Practice Note: Directors’ duties: companies in financial difficulties contains further information.

IA 1986, s 235 imposes a duty inter alia

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Directors definition
What does Directors mean?

A director of a company is responsible for the day-to-day management of that company. The directors make decisions on behalf of the company in order that it can carry on its business.

Read more readmore

Popular documents

Priority between loss reliefs in loss making companies

Priority between loss reliefs in loss making companiesWhy does it matter?A company that is a member of a group and has incurred any of the types of losses available for surrender by way of group relief may, without any further rules, have more than one way in which to use the loss. There are a

What is the difference between an appeal and a review?

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 beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit

Strike out—making an application to strike out a statement of case

Strike out—making an application to strike out a statement of caseA strike out order can be made either following an application by the parties or on the court's own initiative. This Practice Note deals with the scenario of the order being made following a party's application.Making an application