Advise you about administrator or liquidator claims connected with a directors disqualification claim
If you have been the director of an insolvent company you may face scrutiny by an administrator or liquidator. Those office holders have responsibilities to investigate the affairs of the insolvent company and to bring financial proceedings against former directors where appropriate.
Many of the claims that a liquidator has the power to bring are now also duplicated in powers conferred upon the Insolvency Service in the form of Compensation Orders. Therefore a liquidator will be looking at at any investigation the Insolvency Service may be undertaking pursuant to the Company Directors Disqualification Act 1986 with great interest because the outcome of that investigation may adversely affect any claims that a liquidator may be able to bring against you or provide them with evidential support in any claims that they subsequently bring.
You will need to take advice from expert insolvency lawyers with years of experience of dealing with contentious post insolvency financial issues in order to navigate your way through this maze.
There are a range of claims that Office Holders may bring against you following the insolvency of a company including the following:
- Misfeasance
- Transactions at Undervalue
- Preference
- Fraudulent Trading
Losses arising to the insolvent company are theoretically also available to the Insolvency Service under the compensation order powers.
Whilst the Insolvency Service have so far used their powers under section 15A of the Company Directors Disqualification Act 1986 sparingly there is no doubt but they will be more widely used in the future.
Perhaps of greater interest to an Office Holder will be the evidence that the Insolvency Service has unearthed as part of their investigation including any admissions that you make that can be solidified in the form of a disqualification undertaking or within the context of transcripts in court proceedings.
Your directors disqualification lawyers will therefore need to understand each of these moving parts and how best to guide you through this process.
Request a callback
Enter your contact details and we will call you back
