CAN
I STILL ACT AS A COMPANY DIRECTOR EVEN WHILST
THE SUBJECT OF A DISQUALIFICATION ORDER ?
Yes.
It is possible to make an Application pursuant
to Section 17 CDDA for leave to act as a company
director or in a lesser capacity for example
as a manager within the structure of a limited
company.
Typically
these Applications are made concurrently
with either the Trial of the matter, (i.e.
at the end of the Trial if the defendant
is unsuccessful) or if the matter has been
compromised by way of Carecraft proceedings
at the Carecraft Hearing. The reason for
this is that it saves legal costs of both
the DTI and the current director.
The
Court will not always grant these Applications
and the Applications require careful consideration.
Therefore the director should ensure that
he or she seeks legal advice and also advice
from his or her accountant in order to maximise
the chances of success of such Application.
Typically,
the Application will only be granted if
the director can show that major changes
have taken place in the method of conducting
business of the new company by comparison
to the company in liquidation which will
be the subject of the proceedings. In addition,
the new company will of course have to be
trading solvent.
|
