Directors have a responsibility to maintain, preserve and deliver records that are adequate to explain the financial position of their company. If they fail to do so, they run the risk of being disqualified from acting as a director.
In a recent Insolvency Service investigation, a director was banned for seven years. His transgressions are illuminating. They included:
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot: