by Paul Brindley | Jan 20, 2023 | Advice to Directors, Director Disqualification, Upsettable Transactions
The top 5 takeaways from the Sequana case are: Directors have a duty to protect the interests of creditors when a company is facing financial difficulties or is insolvent. Directors must act with care and diligence in managing the company’s financial affairs and...
by Paul Brindley | Oct 17, 2021 | Advice to Directors, Alternatives to formal insolvency, CVLs, Director Disqualification, Upsettable Transactions
If your current business is struggling financially or contemplating liquidating and you have been involved in other companies that have failed in recent years owing HMRC money, there are some new developments that you simply must be aware of as they could impact...
by Paul Brindley | Jan 11, 2021 | CVLs, Director Disqualification, Ethics & Regulation, Upsettable Transactions
A few days ago the legal case ‘Cage Consultants Limited v Iqbal & Iqbal’ was reported, a quite interesting case in which the liquidator of the company sold his claims against the directors of a company, where the directors argued that the assignee...
by Paul Brindley | Oct 27, 2020 | Advice to Directors, CVLs, Director Disqualification, Upsettable Transactions
In Mid October (2020) the court handed down another salutary lesson to directors of small companies who: Take a low salary and top up their pay package with dividends Fail to finalise / lodge their annual accounts and prepare all the necessary paperwork authorising...
by Paul Brindley | Jan 26, 2020 | Administration, Advice to Directors, CVLs, Director Disqualification, Ethics & Regulation, Upsettable Transactions
What duties are we talking about? Sections 171 to 175 of the Companies Act 2006, requiring a director of a company to: Section 171 – Exercise their powers for the purposes for which they were conferred. Section 172(1) – Act in the way he considers, in good...
