Can i be a director in a company if i am in an iva

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john h

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Post by john h » Mon Jul 21, 2008 10:44 am
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Can i be a director in a company if i am in an iva
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Viki.W

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Post by Viki.W » Mon Jul 21, 2008 10:51 am
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Hey john, welcome to the forum. Yes you can but you may have to pay any shares in the company you own into the IVA. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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john h

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Post by john h » Mon Jul 21, 2008 11:15 am
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Thanks viki
regards John
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abc

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Post by abc » Mon Jul 21, 2008 12:39 pm
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If you are a director it does not mean you are a shareholder. Basically a director manages the company and the shareholder owns it!

Not normally a problem during an IVA, but prior to an IVA you need to check the company's articles. On bankruptcy you will need leave of the Court to be or continue being a director whilst bankrupt.
Alan Coleman
Licensed Insolvency Practitioner with over 20 years experience and specialist for IVAs for self employed people

www.jmmarriott.co.uk
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Viki.W

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Post by Viki.W » Mon Jul 21, 2008 1:13 pm
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Ooh sorry, duff info![:I]
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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pennyfortheguy

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Post by pennyfortheguy » Mon Jul 21, 2008 5:18 pm
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Hijohn h. I am also a Director of a Company and shareholder. Are you a shareholder as well?
Also, there are some professions that state that you loose your professional status if you get into an IVA or bankruptcy, so not sure if this affects you eg accountants.
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