Can you still be a director in IVA ?

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TheArrow

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Post by TheArrow » Thu Oct 15, 2009 1:48 pm
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Oh right.

And I still didn't get my question answered.


So if you're a one man band, i.e. the sole director/the board, it's not going to be an issue then? Do you still need to resign and then reappoint yourself?
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Michael Peoples

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Post by Michael Peoples » Thu Oct 15, 2009 2:20 pm
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Hi Arrow. If you are a one man band as such you still need to keep everything right. If under the articles an insolvency removes you as a director and you do not convene a meeting to address this there is a danger that you could lose your limited liability protection. It is very easy to do and your accountant or IP can easily advise but it is vital that it is done for the director's own protection.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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TheArrow

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Post by TheArrow » Fri Oct 16, 2009 9:43 am
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Thanks Michael.

Fortunately I'm in a solvent position, but it's always good to be informed and know options, if things ever turned bad.
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