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According to a recent post on GOV.UK, “Colin James McKenzie, director of Blaina Manufacturing Ltd in Mid-Glamorgan, has been disqualified from acting as a director for 6 years for failing to disclose company assets following liquidation and for breaching agreements the company had entered into with the Welsh Government".
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The directors have to consider several factors to make the
company insolvent. In addition to choosing the most appropriate
form of insolvency, they also need to ensure that the insolvency proceedings are carried out
properly. The insolvency service will further make it easier for the directors to avoid any personal
liability, while reducing the chances of disqualification.
