Director Disqualification Update - Bounce Back Loans & Unfit Conduct

Introduction

This virtual classroom session will explore the types of allegations that commonly constitute unfitness including misuse of bounce back loans.

An example of recent disqualification statistics produced by the Insolvency Service show the number of disqualifications in 21/22, the most common allegations and the length of disqualification periods.

The session will explore the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 which grants the Insolvency Service extra powers to investigate bounce back loan fraud in cases where the company has been dissolved and where appropriate, take action to disqualify the former directors of those companies.

The Act is retrospective allowing an application for a disqualification order up to three years after a company has been dissolved.

What You Will Learn

This live and interactive course will cover the following:

• Disqualification undertakings v disqualification orders - what is the difference?
• Early investigations of the Insolvency Service - how should a director approach this (director’s questionnaire/initial enquiries pre receipt of a section 16 letter)
• Snapshot of the procedure for bringing disqualification proceedings and options open to directors who have been targeted for disqualification
• What happens if a director wants to act as a director notwithstanding disqualification (section 17 Company Directors Disqualification Act 1986 applications for permission to act)?
• The criteria required to be met, unconditional leave will not be given, example of conditions which are commonly attached to an order granting permission

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.