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What Is a Shadow Director?
Many people work on the understanding 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
For anyone who believes that they may classify as a shadow director and wants to know more about their shadow director responsibilities, it is important to contact a trusted insolvency practitioner. Here at The Insolvency Experts, we have advised many clients around the UK on a range of Director duties, including shadow director liability.
The wealth of legal and financial qualification across our team ensures that we operate within all of the required legal guidelines while providing cost-effective and timely guidance. Our personable financial experts ensure you are given helpful and relatable advice that keeps you up-to-speed throughout the process. We offer peace of mind at a stressful moment through working to find a financial outcome that satisfies creditors, the government, shareholders and directors whenever possible.
We understand that many companies find themselves insolvent through no fault of the directors, so if circumstances have brought on financial difficulties, we help our clients to find a workable financial solution. If you want to discuss our available insolvency practitioners Bolton services, get in touch with us today. We act on behalf of our clients to find the best possible solution to their current financial difficulties.
Our expert financial staff are available to discuss options surrounding Liquidation, Administration and a range of other services we provide, with this advice offered through a free initial consultation. Additionally, if you are seeking an estimate on the price of a Liquidation process for your company, you can make use of our free quote calculator.
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What can you do if you’re a Shadow Director?
If you think you may fall under this definition as a shadow director and have current shadow director liability, 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.
Call our friendly experts on 0300 303 8284
By quickly taking back control we can help you solve the problems that the business has.
How do I get the right advice on Shadow Director liability?
If you’re looking for more information on director duties for insolvent companies, get in touch with our expert team at The Insolvency Experts today. Whether you want to ask specifically about shadow director responsibilities, or have any other queries, you can contact us online for more information, or alternatively call us on 0300 303 8284.
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