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hi
i am thinking of going BR next month .
I will obviously have to step down from being a Director of my company ,but wondered what future role i was allowed to play in the company after BR,the company only consists of one further person who will step in as the new director.Does a Ltd company have to have a secretary and a director ?
All help appreciayed
kind regards kevin

Hi there and welcome to the forum

Whilst you are bankrupt, you are not allowed to be engaged in the formation, promotion or management of a limited company, but you can work in one as an employee. You can act as a Company Secretary, so if there is someone available to step into your shoes as director this could work until you are discharged from bankruptcy.

Don't forget that your shares will be deemed a personal asset in the bankeruptcy, and will have to be sold if they have any value.

Have you taken advice from anyone? Speak to an IP as soon as possible on your personal circumstances. Visit www.iva.com for reviews on relevant IP's

If you are thinking of BR and want advice, I recommend you phone Paul Johns of Reviva who posts on here and is a bankruptcy expert. His details can be found under the expert link on the left hand side of the page. The advice will be free.