by Paul Brindley | Apr 9, 2020 | Administration, Advice to Directors, CVLs, Ethics & Regulation
Once this CV19 crisis is over HMRC will be put under a lot of pressure to raise extra cash. This will include looking at ways to generate cash from companies and the people who run them for pre-CV19 debts, they won’t simply roll over and ignore these debts even...
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...
by Paul Brindley | Dec 29, 2019 | Advice to Directors, CVLs, Ethics & Regulation
The rules over the re-use of ‘prohibited names’ in company insolvency are an absolute minefield. I believe there is a ticking timebomb sitting under quite a few of the UK’s directors who tried again following liquidation, who despite having no malice...
by Paul Brindley | Aug 28, 2019 | CVLs, Ethics & Regulation
The first step a creditor must do before presenting a winding up petition is carry out a search to check that no other petition has already been presented. This is because unless there are truly exceptional circumstances a second petition will not be allowed to be...
by Paul Brindley | Aug 26, 2019 | Advice to Directors, CVLs, Ethics & Regulation
A compulsory liquidation is started off by the presentation of a petition in court to wind up the company. What grounds does the petitioner have to show? There are several a petitioner has to show, all set out in section 122 of the Insolvency Act 1986: The company...
