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A company director from Hertfordshire who claimed a £50,000 Covid loan and then dissolved her business has been given a suspended prison sentence. ... Tokarczyk was also disqualified as a company ...
Lord Millett, in the opinion he gave in Official Receiver v Wadge Rapps & Hunt [2003] UKHL 49 (31 July 2003), summarized the history of disqualification orders in British company law, noting that they were originally created under s. 75 of the Companies Act 1928 (subsequently consolidated as s. 275 of the Companies Act 1929), which was enacted on the recommendation of the Report of the Company ...
In July 2022, the FCA announced it had decided to fine Howson £397,800; the former director was appealing against the penalty. [25] [26] In October 2023, the Insolvency Service announced Howson had been disqualified from being a director of a UK company for eight years for his conduct as a director of Carillion. [27]
Disqualification, unfitness Re Sevenoaks Stationers (Retail) Ltd [1991] Ch 164 is a UK company law case concerning the test of being unfit to run a company under the Company Directors Disqualification Act 1986 section 6.
Cases under the Company Director Disqualification Act 1986, such as Re Barings plc (No 5) [11] show that directors will also be liable for failing to adequately supervise employees or have effective risk management systems, as where the London directors ignored a warning report about the derivatives business in Singapore, where a rogue trader ...
Zafar Iqbal Khan (born August 1968), [1] is a British accountant and businessman, and was the finance director of Carillion from 1 January to 11 September 2017, shortly before it went into liquidation in January 2018. In July 2023, Khan was disqualified from acting as a director of a company for 11 years.
The Insolvency Service operates under a statutory framework – mainly the Insolvency Act 1986, the Insolvency Act 2000, the Company Directors Disqualification Act 1986 and the Employment Rights Act 1996. Insolvency Service staff are based across the UK in a network of 38 official receiver offices throughout England and Wales;
Directors who continue to trade while insolvent may face disqualification under the Company Directors Disqualification Act 1986. [3] Under the provision of this act, when a company goes into liquidation, the liquidator must make a report to the Disqualification Unit of the Department for Business, Innovation and Skills on the conduct of all ...