Director Disqualification and Corporate Governance
Neil Davies is presenting on Director Disqualification for the Birmingham Law Society and The IOD on 10th February 2015.
Neil Davies, partner at NDP is talking at an event co-hosted by Birmingham Law Society and the Institute of Directors entitled “What you need to know about becoming a company director”, particularly targeted at new or soon to be appointed directors.
The event, which takes place on Thursday 1oth February, 2015 from 9am – 11am at the Birmingham Offices of SGH Martineau, also features corporate governance specialist David Oxtoby. David will provide an overview of key duties, roles and legal responsibilities of directors including corporate governance for boards and Neil will speak about director disqualification and what happens when you don’t meet your legal responsibilities.
If you would like to attend, you can come as a guest of an IOD or Birmingham Law Society Member.
Why is director disqualification in the news?
Because after a couple of years of falls in director disqualification orders, they are on the increase again.
Year Total Director Disqualification Orders
The increase in 2013/14, which we anticipate will be repeated in 2014/2015, is, we believe, due to The Secretary of State for Business’s intention, through the Small Business, Enterprise and Employment Bill, to impose tougher sanctions on directors especially in the area of director disqualification. The Bill will come into effect in April 2015, and is currently subject to amendments.
However, the proposal for the Secretary of State to be able to pursue disqualified directors for compensation orders on behalf of a specific creditor or even creditors as a whole in any particular case could dramatically change the director disqualification regime because former directors could become subject to monetary claims from HMRC, for example, on a personal basis.
Should this proposal make it to the statute book it could well alter the current advice given to directors as to whether to negotiate an undertaking or fight the claim in a director disqualification case.
All of this is very important for directors, especially new and soon to be appointed, who need to know about the conduct that is legally required of a director.
Neil is an advisory Editor to the leading text on Director Disqualification law and practice, Mithani on Director Disqualification. As a panel Solicitor, he has advised the Secretary of State on Director Disqualification cases and Policy issues for a number of years. For the last 10 years he has returned to his roots, advising directors faced with Director Disqualification problems. He is one of the country’s leading solicitors in this specialist field.
For more information on Director Disqualification, please contact us for a free initial meeting.