Director Disqualifications are increasing
Director 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 directors is six years;
- 10% of directors were disqualified for a period in excess of ten years with 41% disqualified for a period of longer than five years;
You can see the Insolvency Service’s full report and accounts by clicking here.
At Neil Davies and Partners, we expect to see this trend in increasing numbers of director disqualifications continue, as the Insolvency Service receives sustained funding from government for its enforcement activities.
However, if you are threatened with Director Disqualification, then the earlier you contact us the better, because the sooner we get involved, the more we can do to help you. We know that Being disqualified from acting as a director can have serious business and personal consequences for a director and his/her family. Acting positively as early as possible is vitally important, and allowing NDP to help may eliminate the prospect of disqualification, or result in a lower period of disqualification.
Contact us now or call 0121 200 7040 for a free initial consultation.