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The Statutory Demand: A Guide for Companies
For any business, receiving a statutory demand can be a pivotal moment that requires immediate and well-informed action. At I&L Advisory, we understand the severity of this situation and the consequences for companies that fail to respond correctly. This guide aims to shed light on what a statutory demand is, its implications for your business,…
Read MoreDirectors: What Are The Grounds For Disqualification?
When a company director’s conduct is deemed unfit, the consequences can be severe. Disqualifying a director is a legal measure that prohibits directors from engaging in certain activities, and the grounds for disqualification are diverse. Grounds for Disqualification: Under the Company Directors Disqualification Act 1986, directors can face disqualification if they are found guilty of…
Read MoreUnfinished Business with A Bounce Back Loan?
The £50,000 Lesson: A Tale of Misuse In the heart of North London, Salih Ozhot’s misuse of a £50,000 Bounce Back Loan serves as a warning for directors and business owners nationwide. Tasked with supporting his business through the COVID-19 pandemic, Ozhot instead diverted these funds for personal use, a decision that led to significant…
Read MoreDirector Disqualification: The Consequences and Implications
In the world of business, directors play a crucial role in steering companies towards success. However, when directors fail to meet their legal obligations, the consequences can be severe. Ranging from disqualification to lasting damage to one’s professional reputation. In this article, we delve into the intricacies of director disqualification, exploring what it entails, the…
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