Accrington Web - View Single Post

Tealeaf · 07-10-2009, 22:50

Just remember this, Doug - when it comes to Company Law, there are a number of penalties which can be imposed upon the directors if it is found that the club has continued to 'trade' while it is technically insolvent and that as such they have not exercised their proper responsibilities. Not least of these penalties is the fact they can be disqualified from holding directorships in any other company for a number of years. Neither is a penal sentance for financial misfeasance out of the question.

07-10-2009, 22:50	#69
Tealeaf God Member Join Date: Jan 2004 Location: Paradise Lost Posts: 7,220 Liked: 11 times Rep Power: 4266	Re: we'd rather go under than ... Just remember this, Doug - when it comes to Company Law, there are a number of penalties which can be imposed upon the directors if it is found that the club has continued to 'trade' while it is technically insolvent and that as such they have not exercised their proper responsibilities. Not least of these penalties is the fact they can be disqualified from holding directorships in any other company for a number of years. Neither is a penal sentance for financial misfeasance out of the question.