Born again directors
14th October 1993, Page 46
14th October 1993
Page 46
Page 46, 14th October 1993
— Born again directors
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Keywords :
Bankruptcy, United Kingdom Company Law, Finance, Insolvency Law, Business Law, Liquidation, Insolvency, Trading While Insolvent, Wrongful Trading, Business / Finance
• My eyebrows were raised when! read what was said about Section 216 of the Insolvency Act 1986 in the article 'Born again directors' on page 26 of the 30 September issue. The story says that if a person was a director of a company in the 12 months before its insolvent liquidation, he or she cannot be a director of another company. What it should have said was that such a person could not be a director of a company which is known by a prohibited name.
A prohibited name is one by which the liquidated company was known in the 12 months before the liquidation, or one which is so similar to such a name as to suggest an association with that company.
Jim Duckworth Transport law adviser Transport Law Services Woking, Surrey.