We advise individual directors and boards of directors on their duties to the company and its creditors during periods of financial difficulty and in particular, in the periods running up to and immediately after the commencement of any formal insolvency. We ensure that directors are at all times informed of the risks which they run by continuing to trade and ways in which that risk can be minimised.

We also advise on the reporting requirements placed upon insolvency office holders and the implications for directors and company secretaries of these reports, including the application of the Company Directors Disqualification Act 1986.

Advice is also given to professionals in relation to the regulatory implications of any insolvency process and where appropriate, seeking dispensation, notwithstanding the instigation of formal insolvency proceedings.

To read about our Corporate Governance expertise, click here.