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CraigDirector Disqualifications rose in 2013/2014 According to the Insolvency Service’s annual report and accounts for 2013/14, 1,273 directors were disqualified in this country. Other interesting figures for director disqualification over the same period are: There has been a 23% increase in director disqualifications compared to 2012-2013; The average length of disqualification undertakings and orders secured against
Corporate restructuring at major corporations is often in the news. For example, in May 2014, we read that the Japanese electronics giant Sony forecast that it would remain unprofitable until 2015 after a restructuring saw it exit the personal computer business. Closer to home, Morrisons has undergone a major restructuring in order to improve in
Insolvency Litigation includes Shadow Directors as well as ‘formal’ directors. When a company becomes insolvent, its creditors can claim back losses from the company’s directors if these directors breached their duties prior to the insolvency. This also includes what we call shadow directors, not just those who are formal directors of the company. In this way, creditors