a sales director of a company while bankrupt?

[st19]

can i become a sales director of a company if i have become personally bankrupt,i would be a not be a shareholding director,and also would i have tell them if was successful

[Jo Rolland]

You can't act as the director of a limited company and you cannot take any part in the promotion, formation or management of a limited company without the permission of the court.

[Andrew Graveson]

I think the answer to this question is whether or not you will formally (in the legal sense) be a Director, or whether this is a job-title used to denote importance to prospects and colleagues. No issue if there is no legal responsibility.

[ianmillington]

Hi

The technical definition is that you cannot be involved in the promotion, formation or management of a limited liability company - not just a director.

Ian

[mikebdomain]

Once made bankrupt you may not, without the permission of the court, be a director of a limited company in the United Kingdom. To do so is a criminal offence. You may not act as a manager of a limited company in the United Kingdom or in act in the formation of a company in the United Kingdom during the course of your bankruptcy.

You he may not be a partner in a partnership.

Whilst you may continue to trade as a sole trader there are severe restrictions placed upon a bankrupt. For example you must not trade under a new name or different name to that which you traded under prior to being made bankrupt. If you trade in a different name this is a criminal offence.

[ray_a]

But, another question to ask here is how long is your bankruptcy fopr and once discharged there is nothing stopping you.

The company you are with may have problems with banking arrangements though!

[abc]

Normally less than one year unless you have your bankruptcy discharge is suspended. You will have your bankruptcy suspended generally for non cooperation with the OR or Trustee.

[riverqueen]

Hi. new to the forum- but have a question on this subject. I was made bankrupt 2005 due to a partnership going wrong. I want to set up another business with a friend, BUT am very wary of partnership again. I was thinking about a ltd co. I was discharged May 2005- can i set up a ltd co and be one of the directors of it. ?????

[MelanieGiles]

I always say that a partnership is the most difficult trading entity - and I have been a partner in one or two in my time! Personally I would go with the limited company option - it is less personal and potentially easier to pull out of if things go wrong, and there are no restrictions upon you now acting as a director.

[riverqueen]

Thanks for that Mel- [:D]Was unsure about that- i would feel a lot happier being in a ltd co- now i need info on the differences- can you point me in right direction? THanks

[MelanieGiles]

The following link should answer all of your questions:-

http://www.businessignition.co.uk/Diffe ... ership.htm