VINCE CABLE has outlined proposals to shake up the insolvency process, including plans to allow courts to make a financial sanction against company directors in corporate collapses.
In a speech today the business secretary (pictured) outlined a consultation to reform the industry. The changes include a register to identify a company's ultimate owner banning those directors which have already been banned outside the UK from running a UK company and allowing courts to hand out a fines to directors when dishing out a disqualification order.
See full Article: http://www.accountancyage.com/aa/news/2282363/directors-to-be-liable-for-corporate-collapses
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