You will face many challenges when you act as a director and if the company that you are a director of goes into administration or liquidation, then the appointed Administrator or Liquidator will conduct a review of the decisions which the directors took. They are obliged to file a ‘D’ report on the conduct of the directors.
As a result of that initial ‘D’ report the Insolvency Service can carry out an investigation and can then issue proceedings to prevent you from acting as a director of a limited company. This can be for anything from 2 to 15 years and can seriously impact your business life.
The Insolvency team at Furley Page has experts in Directors’ Disqualification and can provide relevant and effective advice in a straightforward and sensitive way. It is essential to seek early legal advice to prevent, where possible, potentially serious consequences.
These types of disputes are very often factually complex. However, you remain the person most likely to be able to provide the information to resolve it. The crucial part is that advice is sought early so that all available options can be explored and considered.
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Our highly experienced legal team offer cost-effective, pragmatic legal advice.