Directors Concerns

If a company fails, its Directors actions leading up to its failure will fall under scrutiny.

Any appointed Administrator or Liquidator is under a duty to review the events leading up to insolvency and report them to the Insolvency Service, who will then decide if disqualification proceedings are appropriate.

In addition, certain transactions that take place within a specified timeframe may be potentially recoverable or actionable, resulting in the appointed Insolvency Practitioner being obliged to pursue these for the benefit of creditors.

This means that Directors need to be extremely vigilant in terms of:

  • Justifying certain decisions that were made up to the date the business is deemed to have failed; and
  • Making sure that they do not undertake certain actions to which they could subsequently be brought to task.


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What are the main considerations for a Director?

Wrongful Trading, Transactions at an Undervalue, Preferences and Misfeasance are collectively known as Antecedent Transactions. There are other types of Antecedent Transactions, such as Fraudulent Trading and Extortionate Credit Agreements. However, actions falling within those categories are more rare.

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Benefits of using us

SFP is an Award winning Insolvency company that provides expert assistance in Turnaround and Restructuring services.

Choosing the right practitioner from the start will have major implications on any case and here at SFP we will take the time and effort to look into your business accordingly.

Having worked with a large number of clients over the last 18 years, we pride ourselves on being a trusted partner to UK businesses who are looking to survive in what is becoming an ever-increasingly challenging business economy.

Get in touch with one of our experts and they will:

  • Listen to you in confidence about the challenges you currently face
  • Analyse your business finances to realise your current scenario
  • Help you understand available restructuring options
  • Recommend, define and agree the way forward
  • Support you through all processes as a result of your taken actions

Call us on 0203 5877700 and talk to us today.

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