4 July 2018: It has been reported that the number of company directors being disqualified in the UK has increased for the third year running and that the term of disqualifications are getting longer with the average length of ban being 7.7 years.
If a company is experiencing financial distress it is vitally important that the directors seek immediate professional advice from an Insolvency Practitioner. This is to ensure that any future decisions made by directors is for the benefit of the company and its creditors and to also ensure that, should the worst happen, and the company enters liquidation or administration, they protect themselves from any potential disqualification proceedings.
At BRI Business Recovery and Insolvency we provide the right advice first time every time. This advice may not be what directors want to receive but it is the right advice all the same. Should your company be experiencing financial difficulty and you want to become more informed about what to do next, please contact any of BRI’s management team.