Must of the IT contracts I have come across recently are only accepting applicants who are directors of their own Ltd companies (there seems to be issues with going through umbrellas).
I have been told by the OR that I have to cease trading, which means I will lose my contract unless I can get permission to continue being a director.
Do you know what the court's opinion would be in this scenario? My contracting ltd company is only as a mechanism for payment and has no need for credit, services or other employees
Under the rules of the Insolvency Act 1986 you are unable to be a Director of a limited company nor be involved with the operation/management of a limited company for the period of the bankruptcy (usually twelve months)
Hope this clears up things for you - there are no exceptions - if you are a driector you would have resign and provide evidence that you have done so from Companies House
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
"You must not be concerned (directly or indirectly) in promoting, forming or managing a company, or act as a company director (whether or not you are formally appointed as a director), without the court's permission"
Are you saying that a court will not give it's permission without exception?
It is true that you can get permission to continue being a director, altough this happens very rarely. It cant harm to enquire though. The reason for the restriction is to protect customers of the Ltd company from actions of the bankrupt
Permission to run a company
Posted - 22 July 2009 : 22:54:28
