Category Archives: Insolvency

The Directors’ Friend: – Facing Personal Liability for ‘Wrongful Trading’ – Call for ‘Robin Hood’

This is the next in my series of blogs for the Director’s Friend. SUMMARY In order to obtain an order from the court that a director is personally liable for wrongful trading under section 214 of the Insolvency Act 1986 … Continue reading

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Reuse of a Prohibited Company Name by a Director leaves the Director caught in an expensive web!!

This is the next in my series of blogs for the Director’s Friend. SUMMARY Following a prosecution for breach of section 216 of the Insolvency Act 1986 (the ‘Act’) (re-use of a prohibited company name by a director) with confiscation … Continue reading

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Directors Duties when the Company may be or is insolvent – Be aware of personal liability stalking you!

This is the next in my series of blogs for the Director’s Friend. In a recent decision of Terence Mowschenson QC sitting as a deputy High Court Judge in the case of Oakdene Homes PLC (In Liquidation) (the ‘Company’) and … Continue reading

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The Latest Insolvency Service Enforcement Statistics are out!

This is the latest in the series for my blog ‘The Director’s Friend’. In a press release dated yesterday (13 December 2016) the Insolvency Service (the ‘IS’) set out their latest enforcement outcome statistics. These show that for the year … Continue reading

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More Bad News for Directors and their Personal Liability

This is the next in the series of blogs for the Directors’ Friend. A director of a company that has been placed in to formal insolvency may receive an enquiry letter perhaps enclosing a Directors Questionnaire from the Insolvency Service.  … Continue reading

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THE LATEST INSOLVENCY SERVICE ENFORCEMENT STATISTICS ARE OUT

This is the latest in the series for my blog ‘The Director’s Friend’. In a press release dated yesterday (13 December 2016) the Insolvency Service (the ‘IS’) set out their latest enforcement outcome statistics. These show that for the year … Continue reading

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The Director’s Friend – CONTRAVENTION OF DIRECTOR DISQUALIFICATION

This is the next in the series of blogs for the Director’s Friend. INTRODUCTION If a director of an insolvent company is investigated by the Insolvency Service, an application for director disqualification follows and an order or undertaking is obtained. … Continue reading

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Director Disqualification

DIRECTOR DISQUALIFIED FOR A FAILURE OF HIS COMPANY TO PAY ITS TAX LIABILITIES (BUT THERE IS MORE) In a recent press release the Insolvency Service (the ‘IS’) (see: https://www.gov.uk/government/news/tax-dodging-it-director-disqualified) confirm that a Mr Anthony Hodges (‘Mr Hodges’) of Basingstoke signed … Continue reading

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THE ‘DIRECTOR’S FRIEND’ BLOG

INTRODUCTION My name is Richard Cole. I am a Solicitor. I specialise in insolvency dispute resolution and commercial dispute resolution. I want to introduce myself to you as the ‘Director’s Friend’. That is where I believe that I have the … Continue reading

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Brexit and its unpredictable impact

The Insolvency Service figures for the last quarter ending at the start of October show that the number of insolvencies remained flat despite the Brexit vote. Many had reflected prior to the referendum that Uk Companies would see an immediate … Continue reading

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