Hotline aims to shame bosses
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by Sally Nash • A 24-hour Government hotline to "name and shame" directors who run phoenix companies has been launched after it emerged that road haulage is among the leading victims of this problem.
Members of the general public will be able to give tip-offs about disqualified directors and bankrupts who: • Continue to act as company directors; • Are involved in the promotion or formation of a company; • Are involved in managing a company without a court's permission.
Competition and Consumer Affairs Minister Nigel Griffiths says: "It is obvious that in some cases the penalty of up to two years in prison and a £5,000 fine for breaching an order is not deterrent enough for some, and they still carry on as if nothing has happened."
According to the latest quarterly statistics from the Department of Trade and Industry, the only industry sectors with more phoenix companies than transport are business services, construction and retailing.
71 The hotline is: 0845 6013546.