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Archive | Corporate & Commercial Opinion
Companies House: late filing penalties

Companies who are late filing accounts at Companies House are now to receive increased financial penalties courtesy of the implementation of section 453 of the Companies Act 2006. All penalties have been increased to take into account inflation between 1992 and 2007. Furthermore, a faster rate of increase in penalties has been introduced for companies…

Loans to companies by directors

General rule All loans and quasi loans by a private company to a director need to be approved by shareholder resolution, but there are certain loans which shareholders don’t need to approve listed below. Quasi-loans are those where a director uses company’s credit facility for his or her own benefit. Provisions on directors loans to…

Misappropriating company funds

Abstract Directors’ duties post Enron are now subject to greater public and legal scrutiny and breaches of such duties whether occasioned innocently or recklessly can no longer be defended via use of the more ‘typical’ and traditional corporate defences, as the following case highlights. Simply Loans Direct Ltd v Wood and others [2006] All ER…

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