What is a Shadow Director?
Many people believe that only registered directors are held legally responsible for acting in the best interest of creditors, however, if you run the business and control the direction of it, giving instruction to the directors then this is referred to as “shadow directing”. If you are considered to be a shadow director you are subject to the same investigations and can be held as accountable as a registered director
What to do if You’re a Shadow Director
If you think you may fall under this definition as a shadow director, it’s important to know what your responsibilities are if the business is entering into administration or liquidation. Our Insolvency Experts will be able to offer you advice about your situation.
Get in touch with The Insolvency Experts
If you’re looking for more information on director duties for insolvent companies, choose one of the options below. If you can’t find what you’re looking for or if you have any queries, you can contact The Insolvency Experts online for more information, or alternatively call direct on 0300 303 8284.