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The session will provide an overview of a director’s statutory as regards the responsibility to the company, its shareholders and, where insolvent, its creditors and discuss the challenges this posses for a director where there is evidence of insolvency. With a regulatory focus on misuse of BBL and Covid support schemes, we are seeing an increase in director disqualifications. It is therefore important for accountants to spot those early warning signs of distress and point of insolvency when director’s duties change, and they enter into a heightened risk environment. Accountants will leave the session with a good understanding of director’s duties and importantly, when their client directors should seek legal advice and take proactive steps to mitigate potential personal liability. Above all, the session will aid client retention and ensure opportunities to mitigate risk, rescue a business are spotted.

Martyn Pullin will cover the following topics during this session: 

• The various types of Directors
• Director’s common law and statutory duties
• Director’s duties under the Companies Act
• Director’s duties under the Insolvency Act 1986
• Consequences for breaching duties as a director of an insolvent company

By attending this session, you will be better prepared for client distress and the challenging position both the director and advisor finds themselves in when attempting to rescue a Company’s business, often continuing to trade beyond the point of technical insolvency.

The session is targeted at client facing senior accountants, principles and partners delivering frontline advice to their clients.

Course Level: Intermediate