Moon Beever Logo

2-03-2016

Proposals to reduce the costs of registering a company to as little as £10 are concerning. England already has incredibly low entry requirements and very little, if any, due diligence on directors before they can gain the protection of limited liability.

It will be even more important to ensure a robust regime for tackling failure where directors have not complied with the rules and creditors suffer as a result.

Furthermore, it will make life for fraudsters and money launderers using corporate vehicles easier and will do little to counter the view that the UK is a good home for fraud.

Insolvency practitioners are ideally placed to conduct the post-failure investigation and bring wrongdoers to book financially. It is only a shame that the government wouldn't retain the exemption from LASPO enabling them to make the wrongdoers pay all the actual costs of pursuit.

Hopefully, the government will reverse that mistake during the existing two-year review period. Independent evidence shows that if they don't, victims including the taxpayer will lose £480 million every year.

Frances Coulson (fcoulson@moonbeever.com)

OUR TEAM MEMBERS
TESTIMONIALS

Standout firm known for its personal insolvency work for clients including private companies, individuals and governmental institutions. Frequently acts for insolvency practitioners, assisting with the realisation of assets, both in the UK and abroad.

Chambers and Partners

Contact Us

Our office locations can be found here and individual staff profiles here together with full address and contact details. 

For non-urgent enquiries by email, please complete the contact form below and we will respond as soon as possible.

logo-alep-min
logo-legal500-min
cq-logo
logo-rescue-awards-min
logo-lexcel-min
logo-chambers-and-partners-min
stonewall
wiq-logo