Navigating the responsibilities and liabilities of company directors during insolvency can be challenging. This topic provides critical insights and practical strategies to manage directors' duties, mitigate risks, and ensure compliance with legal obligations, enabling specialists to effectively support their clients through complex restructuring and insolvency scenarios.
Role, powers, functions and duties of a liquidatorThe role and function of a liquidatorA liquidator is the officer appointed when a company goes into...
What is a statutory declaration of solvency, and what happens if a false declaration of solvency is madeCoronavirus (COVID-19)This content is affected...
Bonds and notesThe terms ‘bonds’ and ‘notes’ are used interchangeably (and there is no legal difference between the terms), though notes tend to be...
Obtaining Official Copies from HM Land RegistryThis Practice Note provides guidance in obtaining official copies of the entries on the title of a...
What is the obligation on past directors to complete the Directors' Questionnaire on insolvency?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
What constitutes unfitness under section 6 of the Company Directors Disqualification Act 1986?Section 6 of the Company Directors Disqualification Act 1986Section 6 of the Company Directors Disqualification Act 1986 (CDDA 1986) provides that:•'the court shall make a disqualification order against a
Letter to directors in an insolvency situation warning of main legal risksYou recently came to see us/contacted us as a director of a company in financial difficulties.The purpose of this letter is to you to bring to your attention some issues that you should be aware of in your capacity as a
Directors’ duties: companies in financial difficultiesDirectors of companies which become, or are likely to become, insolvent face additional considerations and are under a duty to minimise losses to the company’s creditors. The relevant statutory provisions are contained in:•the Insolvency Act 1986
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