Essential Insolvency Advice for Directors

As a Company Director, if you are concerned for the financial position of the company that you work within, you may also be concerned about where you stand with regard to your responsibilities, duties and liabilities.

Managing a company through a turnaround, rescue or insolvency may require new skills and lead to new experiences. Why not integrate the skills that you have within your company with our skills and experience to give you the best chance of producing the outcome that you're looking for.  If you don't deal with the situation you should be aware of some of the points below.

Director Responsibilities

As a Company Director you may have been thrust into the position as a Director without any formal training as to the responsibilities that you have taken on.  In the situation of a company in decline that you may wish to be clear on where you stand.

Your responsibilities are to act in the best interest of stakeholders in the business. Stakeholders would include trade and finance creditors, HMRC, employees and shareholders.

Directors Duties

As a Director your duties are wide ranging. In a financially challenged company you might want to be clear that your actions are not making the financial position of those associated with the company worse.

Directors Liability

Directors may become PERSONALLY LIABLE for losses of the business if they do not act reasonably in the light of the circumstances and situation that they are facing.  Such liability can be reduced and or eliminated by seeking expert advice at an early juncture.

Nothing to lose!

Our initial advice is without cost or obligation on your part.

Contact us on 020 7495 2348 in confidence and let us help you find the best way forward.