Section 94 of the Bill makes further provision for increased transparency in companies by widening the matters which the Court may consider when determining whether a director is unfit, in respect of director disqualification proceedings. These changes refer to the Court’s consideration of matters relating to overseas companies which have been placed into insolvency proceedings.
As stated in our previous blogs, this continues the theme of transparency and seeks to add an international element such that directors cannot simply commit acts of misfeasance in one jurisdiction and then move to another with a clean slate.
It remains difficult to understand whether such evidence will actually be available to the government’s investigators and the impact on a defendant’s human rights in terms of the difficulties in getting information and documents from a foreign jurisdiction (especially overseas jurisdictions) in defending such claims. This could also make the prosecution of such claims lengthier and more expensive for both government and defendants.
At Francis Wilks & Jones we are specialists in director disqualification matters and should any of the above matters cause concerns please do not hesitate to contact us.