Category: Commercial Disputes

 

Compensation Orders against Disqualified Directors

Overview

As from 1st October 2016 it will be possible for the Secretary of State, in addition to seeking a disqualification order, to apply to the court for an order that the director should pay compensation for the losses which he has caused to the creditors of the insolvent company or in the alternative seek an undertaking to pay a corresponding amount to the Secretary of State.

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