Member Since: 20th Jun 2009
6th Jan 2017
But no mention of section 75 and the problems this may bring.
25th Apr 2012
This is a poor article
I take a different opinion to ksagroup for several reasons. To list but a few, this has been written as though it has been extracted from a text book. As far as I can see there is no personal voice. No tales from the coal face. On this site there seems to be little understanding from some people of what happens when a company fails and this article does little to redress that.
In many cases there is no liquidator. In other cases there is sharp practice of directors being given doubtful advice to spend several thousand pounds to wind the company up.
Which brings me to my final points. The one bit of real advice Ms Adams offers is' ...most importantly...don’t resign. This could also be viewed by the liquidator as “failing to meet obligations”.
This bald - and bad - advice comes without any qualification or reference whatsoever. Has she ever seen a liquidator take action for a director resigning? We do not know. We are not told.
My real point, however, is In the case of no liquidator, resignation may progress the companies' end and may also provide directors with protection. For the reasons given, this is a poor article