Simon Duncan continues to explore who has the right to sue former directors under s 15 (1)
of the Company Directors Disqualification Act 1986
The Secretary of State for Trade and Industry brought proceedings in December 2005 seeking disqualification orders against the three respondent directors under s 6
of the Company Directors Disqualification Act 1986 (DDA 1986).
Not exact matches
These include shareholder and partnership disputes; the investigation and pursuit
of civil fraud claims against
directors, employees and third parties; international asset tracing; professional negligence claims (including against office holders);
Company law claims such as minority shareholder petitions (Section 994 Petitions) and specialist applications in relation to the conduct and control
of companies; contract disputes; challenges to share sale consideration; and
directors»
disqualification proceedings.
Simon regularly provides specialist insolvency advice to insolvency practitioners, banks and
company directors on a range
of issues arising from corporate insolvency including gratuitous alienation and unfair preferences claims, retention
of title, landlord's hypothec, wrongful trading and
directors» duties and
disqualification issues.
If the conduct
of a disqualified
director (or a
director who has given a
disqualification undertaking) was caused because they followed the instruction or direction
of a third party then the latter may also now be disqualified as also may a
director on the strength
of an overseas conviction for an office concerning the promotion, formation or management
of an overseas
company.
The court is given a new power to order compensation in favour
of a creditor who has been caused loss due to the conduct
of a person for which, following a
company's insolvency (liquidation, administration or administrative receivership will do) they have been disqualified or given an undertaking under the Company Directors Disqualification Ac
company's insolvency (liquidation, administration or administrative receivership will do) they have been disqualified or given an undertaking under the
Company Directors Disqualification Ac
Company Directors Disqualification Act 1986.
The Insolvent
Companies (
Disqualification of Unfit
Directors) Proceedings (Amendment) Rules 2007 (SI 2007/1906) came into force on 6 August 2007 and settled it.
Directors of companies wound - up in the public interest should face automatic petitions for their bankruptcy and / or automatic
disqualification from acting as a
director.
Re Servaccomm Redhall Ltd, Cunningham v. Secretary
of State for Trade and Industry Ref: [2006] 1 BCLC 1 Acted for successful applicant on a complicated application for permission to act as a
director of two
companies notwithstanding the making
of a
disqualification order.
Philip Gillyon has been a member
of the Panels
of Counsel authorised to represent the Secretary
of State for Trade and Industry / the Official Receiver in proceedings under the
Company Directors Disqualification Act 1986.
Advice and litigation in relation to all aspects
of company law, including disputes between shareholders and minority shareholders» remedies,
directors» duties,
company meetings and resolutions, memoranda and articles
of association and
disqualification of directors.
(ii)
Disqualification proceedings were concerned with conduct in a particular context, namely that
of conduct as a
director owing duties under the
Companies Acts and the general law.
(vi) The court was concerned solely with the conduct specified by the Secretary
of State under r 3 (3)
of the Insolvent
Companies (
Disqualification of Unfit
Directors) Proceedings Rules 1987.