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 2015 / 2016 that 1,210 director disqualification orders and undertakings were obtained with a running total of 807 for the year to date. The clear majority of the disqualifications were pursuant to section 6 of the Company Directors Disqualification Act 1986 (‘CDDA’).

The average length of a disqualification is on the up to 5.9 years.

In passing the number of Bankruptcy and Debt Relief Restriction Orders and Undertakings is down sharply from the period 2009 / 2010, but is still in excess of 300 a year.

The average length of a Restriction, however, is at an all time high at 5.3 years.

COMMENT:-

The director disqualification statistics show that directors of companies that have been placed into liquidation and administration are at risk of being investigated and disqualified with the period of time that the director is disqualified for on the increase.

WHAT TO DO NOW?

If you are faced with a claim for director disqualification by the IS please talk to me today. That is in order to protect your position without delay. The earlier that you speak with me the more that I can help. Why not call me today on 01992 558 411 and speak to me without obligation, pressure or cost.

If you are happy to instruct me my firm and I are happy to talk to you about fixed fees or staged fees that are agreed with you in advance of any work being carried out. Your work will be carried out by me or others under my close supervision. Finally, I am happy to come to you to take instructions.

Until the next time…

THE DIRECTORS FRIEND

 

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