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 | Mar 31, 2020 | Advice to Directors, Coronavirus, CVLs, Upsettable Transactions
We are in very difficult times, where I suspect many companies are insolvent on a cash flow basis, unable to pay their suppliers on time. Although the government are intending to bring in a law to relax the rules over wrongful trading, the detail hasn’t been seen so...
by Paul Brindley | Feb 15, 2020 | Administration, Advice to Directors, Alternatives to formal insolvency, CVAs, CVLs, Upsettable Transactions
Is there a storm coming your way? The Background You may have heard about something called the Loan Charge? It’s led to big tax calls on companies and the individuals who benefitted from such loans. In fact HMRC estimated they’d collect £3 billion,...
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...
