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At a Glance
Issue Summary
David Kerr discusses the disqualification provisions and their role as a deterrent against director misconduct during company insolvency proceedings.
Action Requested
Kerr supports the current provision allowing the Insolvency Service to investigate companies without having to go through the restoration process, emphasizing that it is appropriate in certain circumstances where potential misconduct or abuse may be hidden. He does not propose any specific action but highlights the importance of these provisions.
Key Facts
- There is an obligation on insolvency practitioners to report director conduct when a company goes into insolvent liquidation or administration.
- The provision allows the Department to commence investigations without barriers after a company has been dissolved, provided circumstances are deemed appropriate.
- The number of companies dissolved annually involves no suggestion that all or even most involve misconduct by directors.
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