Up to now you’ve been operating as a sole trader. Your business is growing, your contracts are becoming more lucrative, and you want to limit your potential personal liability. You decide it’s time to incorporate a company and join the other 4 million private limited companies on the UK Company Register.
BBC news alerts on our phones seem to be constant these days. There is of course the small issue of Brexit which is keeping journalists occupied. However, the state of the economy also features heavily in the news: large corporate collapses have dominated the headlines in recent times.
Treating a director who is a minority shareholder fairly in both their involvement in the management of a company and in any offers to acquire their shares is of paramount importance to defeating an unfair prejudice petition.
The Sentencing Council recently announced new guidelines for sentencing breaches of s.13 of the Company Directors Disqualification Act 1986 (CDDA 1986), commonly known as ‘acting as a director whilst disqualified’. The guidelines come into force 1 October 2018. Those who are subject to a director’s disqualification order (‘DDO’) may have some questions about the guidelines.