As an insolvency lawyer it can be sometimes difficult to see how we positively contribute to the human race. In fact I am reminded of the eminent Lionel Hutz when talking to Bart Simpson about a world without lawyers https://www.youtube.com/watch?v=uG3uea-Hvy4 However, this morning it was my honour and privilege to appear (by Skype) before Judge […]
Judge Barber was first complimentary about the arguments raised by the Applicant in a directors disqualification before dismissing the claim. However, she was not persuaded that the Court’s inherent jurisdiction was exercisable in these circumstances. The Applicant, Marios Georgallides, had accepted a disqualification undertaking in 2010 arising from the insolvency of Mezzanine Group PLC. In […]
The number of people being disqualified from being able to act as a company director is significantly higher over the course of the last 12 months compared with a comparable 12 month period at the turn of the millennium. The powers of the Secretary of State to disqualify a director are set out within […]
After a company is wound up the liquidator will investigate the affairs of the company. If it is apparent to a liquidator that the conduct of a director, in relation to the insolvent company, was “unfit”, he is required to inform the Secretary of State by reporting these concerns to the Insolvency Service. On […]
There is a very important safeguard contained within the Company Directors Disqualification Act 1986 (“the Act”) that, in theory, protects people who are participants in disqualification proceedings, and whose conduct may amount to criminal conduct. Section 20 (1) of the Act makes it clear that, when defending an application by the Insolvency Service to […]
The modern personal bankruptcy regime in the UK is intended to be ‘non-judgemental’. Gone are the days of debtors prisons in favour of a culture that recognises that a nation of risk taking entrepreneurs sometimes produces losers. However, there is still a requirement for extreme behaviour to be moderated and controlled. These controls […]
In circumstances where the level of your overall debt means that you are struggling to make repayments as they fall due advice from a specialist insolvency lawyer, whether a solicitor or a barrister is essential. There are occasions however where an informal arrangement may be much preferable to a formal procedure, such an Individual Voluntary […]
If you are an individual (as opposed to a company) and you owe money the consequences can be draconian. You would be well advised to seek advice from a specialist insolvency lawyer at the earliest opportunity. The person seeking payment (the creditor) may issue a Statutory Demand (or a “Stat Demand” as it is […]
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