8 November 2015 | Companies House
In very rare circumstances, it is possible for an individual to be disqualified as a director of any limited company.
This can arise where the company has been badly mismanaged; where someone has continued to trade and lose money for their creditors, when they should have taken professional advice; where large sums of taxes remain unpaid; or where there has been a fraud or other criminal activity.
A list of disqualified directors is maintained at Companies House and can be searched by any member of the public, and it helpfully provides details of why someone has been banned.
We recently had a client who was told by his bank that he was a disqualified director, and that his banking facilities were to be withdrawn as a result, and we could point him and his bank to the list of current disqualified directors to prove that the bank were wrong.
Thankfully, we were able to turn a potential catastrophe around in a matter of hours, for which our client was very grateful, but we still do not know how the bank could get it so wrong on such a serious matter without double checking their facts. This event was potentially libellous to our client and could have destroyed his business, were it not for the quick resolution.
The information provided is for general information purposes only.
Legislation and details may have changed since this was written. The text may not include all matters that are relevant to your individual situation.
You should not make decisions, or refrain from making decisions, without taking further professional advice about your specific circumstances.
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