Figures from the Insolvency Service show an increase of 25% in the number of disqualified directors in England, Wales and Scotland in the year 2013/2104. Overall 1,208 directors were disqualified, compared to 969 in 2012/2013. There was a corresponding 19% increase in the director disqualification proceedings commenced by the Insolvency Service.
Directors can be disqualified from acting as a company director for up to 15 years for breach of their duties under Companies Act 2006.
If you want further information about directors’ duties under the Companies Act 2006 speak to Toby Stroh, Christopher Axford or Richard Baines, partners in Druces LLP’s Corporate & Commercial Department.