As a director of a Company you have a legal and fiduciary duty of care to act in the best interests of your company and its shareholders. However, the moment your company is deemed to become insolvent, you are under a legal duty to protect the interests of creditors. Going forward, the primary purpose of the company and its directors must be to achieve the best return for creditors and other stakeholders. We have listed below the most common questions directors ask us when considering the options around formal insolvency procedures and the answers.

For advice and guidance on how to protect your position as a director and avoid personal liability please call one of our team on our freephone number 0808 168 7540