Letter to directors in an insolvency situation warning of main legal risks
Published by a LexisNexis Restructuring & Insolvency expert
Last updated on 26/02/2020

The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:

  • Letter to directors in an insolvency situation warning of main legal risks

Letter to directors in an insolvency situation warning of main legal risks

Coronavirus (COVID-19) and the Corporate Insolvency and Governance Act 2020

This content is affected by changes to UK insolvency laws made in response to the coronavirus (COVID-19) pandemic. The Corporate Insolvency and Governance Act 2020 (CIGA 2020) introduced significant reforms, including temporary changes to winding-up petitions and temporary changes to the wrongful trading regime. For further details, see Practice Notes: Reform of UK insolvency laws, Corporate Insolvency and Governance Act 2022—winding-up petitions from 1 October 2021 to 31 March 2022 [Archived], and Corporate Insolvency and Governance Act 2020—temporary changes to the wrongful trading regime [Archived]. For further information on CIGA 2020 generally, see: Corporate Insolvency and Governance Act 2020—overview. For related news, guidance and other coronavirus resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

You recently came to see us/contacted us as a director of a company in financial difficulties. We write to you to bring to your attention some issues that you should be aware of, in your capacity as a director of the company, and/or in your personal capacity as a director. It is important that you contact us to discuss any specific matters you are unclear about, and to discuss how to proceed in view of your particular circumstances. The information set out below applies generically

Related documents:
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.

Popular documents