United Kingdom: Extended powers for the Insolvency Service to investigate and sanction former directors of dissolved companies introduced

In brief

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act ("Act") received royal assent on 15 December 2021.

The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities.

Filed under:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, White Collar Crime, Baker McKenzie, Coronavirus, Serious Fraud Office (UK)
Authors:
Bevis Metcalfe , Priyanka Usmani
Location:
United Kingdom
Firm:
Baker McKenzie