Personal reputation

Insolvency practitioners, HMRC and the official receivers brief is to investigate the conduct of all directors involved in a company that has gone or been put into liquidation by the directors (owner) or a third party via a winding up petition or other method. (Remember you at this point don’t control or own the company)

Potential prosecution for some/all of the following (you may not realise you have committed an offence) shadow director, fraudulent or wrongful trading, breach of fiduciary duty, misfeasance, trading whilst insolvent, conspiracy to cheat the revenue or even failure to keep proper books and records. All these can lead to serious financial damage or loss of personal liberty.