Director disqualifications on the rise
The EDP has recently reported on the marked rise of the number of company directors being disqualified over the last three years.
Some 1,231 directors were struck off in 2017, with the length of bans from disqualification orders also increasing.
Directors who do not abide by the rules are more likely than ever to be caught, but there is always more that could be done.
When a company is in financial distress, some directors may be tempted to break the rules to keep the business going a little bit longer. Longer disqualification periods and the increase in disqualifications should persuade directors to seek professional advice before making any decisions that could adversely impact the rest of their careers.
Disqualification can have a disastrous effect on both your reputation and the ability to run a business, so it is vital that you seek legal advice at the earliest possible opportunity.
Our team have both the experience and the expert knowledge needed to help directors avoid disqualification and subsequently being sued for financial redress when things go wrong.
We have advised clients whom have been subject to such claims and orders with their companies’ deficit ranging from £50,000 to £20,000,000. We have dealt with claims up to and including trial and also represented clients at examination hearings.
Should you have any issues or concerns you can contact me at firstname.lastname@example.org or on 01603 675639.