Avoiding misfeasance claims in 2021

How company directors can avoid misfeacance claims in 2021

As the UK struggles to revive its debilitated economy, some directors of insolvent companies will find it difficult to avoid misfeasance claims in 2021 and beyond. According to section 212 of the Insolvency Act 1986, misfeasance occurs when a director or ex-director retains, misappropriates, misapplies, or becomes accountable for any of the company’s property or…

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Benefits of a pre pack administration

Pre-pack administrations help directors restructure their businesses

Expect an increase in pre-pack administrations over the next 6 months as panic-stricken company directors consider their restructuring options post lockdown. Depending on the circumstances, a pre-pack administration can offer huge benefits to the director of a profitable, but insolvent company. The procedure is a useful restructuring mechanism that helps business owners place insolvent companies…

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How Do You Protect Yourself as a Director When Your Company Has Been Liquidated?

After a company is liquidated either through a Creditors Voluntary Liquidation (CVL) or compulsorily winding up by the court, the actions of the directors during the previous 12 months usually come under  careful  scrutiny. If the liquidator (or official receiver) believes the director(s) in question did not act in accordance with their duties, they can…

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