Director Disqualification for Craig Whyte.
In a recent press release the Insolvency Service confirmed that Craig Whyte the high profile former Chairman of Rangers Football Club was disqualified from being a director for the maximum period of 15 years.
The disqualification as a director means that Mr Whyte is prevented from being a company director or in control of a company until 20 October 2029.
It would appear that Mr Whyte:
- failed to comply with his duties as a director of the company to include failing to promote the interests of the company (see in particular section 172 of the Companies Act 2006 – by extrapolation); and
- failed to avoid conflicts of interest (see in particular section 175 of the Companies Act 2006).
A 15 year disqualification means that the misconduct by Mr Whyte was deemed extremely serious. This case shows that even high profile directors are not immune from being disqualified as directors and can and do receive the maximum period of disqualification if the misconduct demands it.
How can Neil Davies and Partners help in such director disqualification cases?
At NDP we are vastly experienced at dealing with these kinds of litigation and dispute proceedings. We do try to assist our clients to stay away from the Court where possible or appropriate in order to save our clients the cost, stress and inherent litigation risk of going to Court. For example, in the context of director disqualification proceedings we can negotiate a disqualification undertaking in order to do so.
At NDP we can also talk to you about your duties as a director or a manager of a company. We can also talk to you about ways to avoid the criminal and personal financial consequences of breaching a director disqualification order or undertaking. Contact us, or call us on 0121 200 7040 straight away for a free initial discussion. The sooner you get in touch, the more we can help.