The Company Directors' Disqualification Act 1986 (CCDA) places a duty on a liquidator (including an official receiver) and any administrative receiver to report to the Secretary of State amongst other things the conduct of a director which makes him unfit to be concerned in the management of a company. If the Secretary of State considers that there is merit to the unfit conduct charge then proceedings can be taken whereby the person in question could be disqualified as director for up to 15 years.
Healys has experience in advising directors of companies in any action which may be contemplated or brought by the Secretary of State. We can advise on the length of the disqualification period and seek permission of the Courts to remain a director of a company and/or agreeing suitable undertakings.
The likely costs will be dependant on what advice and action is necessary or required. defending a Disqualification claim can be expensive which is why we would recommend you speak with us before making any decisions. Often there are alternatives. Are you the only director and/or do you need to be a director? Indeed do you need to be a limited company? We are happy to offer you a free 30 minute consultation to discuss these questions with you or assist you to ensure you do not contravene Company Law.