The following are common grounds in alleged unfitness in respect of the liquidated company:
- Conducting a policy of deliberately not paying HMRC debts
- Failure to keep maintain, preserve or deliver up proper accounting records
- Trading to the detriment of creditors generally or specific creditors – this normally involves demonstrating a policy of non-payment of certain creditors;
- Paying one creditor in priority to others when insolvency is imminent;
- General public interest breaches including mis-selling or misrepresenting sales to customers or retaining customer deposits;
- Wrongful trading of the company [Section 214 Insolvency Act 1986];
- Fraudulent trading [Section 213 Insolvency Act 1986];
- Trading in breach of legal and regulatory requirements – for example being involved in financial services schemes without having proper authority to provide such services by the FSA;
- Misapplication or retention of company money or property, either for less than the market value or for no consideration;
- Failing to prepare/file annual accounts or any other statutory returns to Companies House;
- Failing to deliver up company documents and property.