What are the director’s duties in insolvency circumstances?

In the event of a company becoming insolvent due to its debts and creditors exceeding its assets, it is the statutory duty of the company’s directors to act in the best interests of the company’s creditors as a whole. It must be possible for the directors to demonstrate that they have taken every feasible step within their control to ensure that all creditors have been repaid using the company’s resources.

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Ever-more prevalent ransomware heightens the importance of business vigilance

One recent story that existing business owners or those looking to incorporate a limited company with the assistance of London Registrars may have noted concerns on what has been declared to be the ‘worst ever’ ransomware attack. Experts believe that as-yet-unknown parties lifted a trove of tools from the National Security Agency (NSA) that were then used for a global malware campaign.

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Important changes made to the PSC regime

Whether or not your company presently maintains a PSC register, it may have reason to take an interest in the latest changes to the PSC regime.

The UK Government altered the Companies Act 2006 in April last year, to include a requirement for most companies and LLPs to produce, keep and maintain a register of any people or relevant legal entities with significant control over that company or LLP.

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