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Director Advisory

At Parker Andrews, we specialise in offering comprehensive, clear, and practical advice to company directors and members of limited liability partnerships. Our focus is on ensuring you are fully informed and protected, especially when navigating the complexities of insolvency and company management.

Guiding Directors Through Legal Obligations and Protections

Navigating the intricacies of directorship, especially during challenging financial times, can be daunting. Our advisory services are designed to:

Ensure Compliance: Help you meet all legal obligations under the Insolvency Act 1986, Companies Act 2006, and Company Directors Disqualification Act 1986.

Protect Directors’ Interests: Advise on best practices to afford maximum protection against potential liabilities.

Navigate Financial Challenges: Provide guidance if your business is facing insolvency or undergoing formal or informal restructuring procedures.

Key Responsibilities and Liabilities for Directors

As a director, your duties encompass:

Prioritising Creditors: Considering the interests of unsecured creditors over shareholders.

Asset Protection: Safeguarding and preserving company assets.

Avoiding Questionable Transactions: Steering clear of dealings that might be challenged later by a Liquidator or Administrator.

Acting in Good Faith: Maintaining integrity and honesty in all dealings.

Potential liabilities include:

Financial Reparations: Obligations to reimburse monies to Liquidators or Administrators.

Disqualification Risks: Potential disqualification from managing a company for 2 to 15 years.

Legal Consequences: In severe cases of misconduct, directors may face fines, imprisonment, or legal costs.

Personal Guarantees: Personal liabilities arising from company debts if you’ve provided guarantees or security.

What should I do if I’m concerned about my company’s solvency?

How can I ensure I’m fulfilling my duties as a director?

Our team can guide you through your responsibilities and help you navigate complex situations effectively.

What happens if I’ve provided a personal guarantee for company debts?

We have specialists who can assist in negotiating with creditors in such situations.

Resources Guide for Directors Find out more

case-studies A Comfortable Retirement Find out more

Concerned about your responsibilities as a director or facing challenges with your company’s financial situation?

Contact Parker Andrews today for expert director advisory services. Our team is here to support and guide you through every step, ensuring you meet your legal obligations while protecting your interests. Get in touch with us for confidential, expert advice.

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Expert Insolvency Services

Our award-winning team is dedicated to guiding you through every step of the insolvency process. We believe in transparency, honesty, and empathy, ensuring that our clients feel supported and informed at every turn.

Exit Strategies

Turnaround & Growth

Creditor Advisory

Here when you need us

Our team is always available by email  and telephone in the evenings and at weekends, and we can also arrange meetings out of hours if required.

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