The team at Commercial Domestic Investigations are experts at debt collection and credit control, two areas which can instantly impact the cash flow situation of most businesses. In some cases the need for debt collection on behalf of businesses occurs when creditors suffer loss due to the conduct of disqualified directors.
Creditors who have lost out financially, as a result of the improper conduct that occurs when a director is disqualified, have been reminded of new measures coming in to force – from October 1, the disqualified director in question can be required by the court to pay compensation.
For creditors, financial redress is just one of the various ways in which the company director disqualification process is being strengthened.
The secretary of state can seek to have directors of a company disqualified if they:
- Have influenced or instructed a director to behave in any way that results in the disqualification of that director
- Have been convicted of a company related offence abroad
- Breached any laws or regulations
- Have previously been involved in any failing companies
Considerations when decision making
These changes follow the passage of the Small Business, Enterprise and Employment Act 2015, which received Royal Assent in March. The secretary can also use information from other regulators, if needed, in disqualification proceedings. Also having to be considered is the nature and extent of any harm and loss caused when deciding if disqualification is appropriate.
Also changing is the maximum period of time elapsing between a company being declared insolvent and the secretary of state seeking disqualification proceedings, rising from two to three years.
If you think your business could benefit from our services please contact Commercial Domestic Investigations for an impartial and friendly chat about your needs. To keep up with the latest debt collection news remember to follow Commercial Domestic Investigations on Twitter.
About Commercial Domestic Investigations
Commercial Domestic Investigations are regarded within the debt collection and credit control industry as one of the best credit management companies in the UK. Established in 1988 to support and service all sizes of companies in the field of Credit Management.
Primarily our clients use our automated Debt Collection Services, but over the last eighteen years clients requirements have changed dramatically, something Commercial Domestic Investigations has addressed.
We now boast a national client base in excess of 30,000 companies. Commercial Domestic Investigations has grown by listening to clients’ requirements and adapting our services to meet all companies’ needs from Sole Traders, SMES, Ltd and PLCs. Please contact us on 08444 159200 for more information.