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Phoenixing: Information

Changes have been introduced by the Small Business, Enterprise and Employment Act 2015: https://www.gov.uk/government/news/changes-to-insolvency-legislation-enacted.


One of these is an amendment to the Company Directors Disqualification Act 1986.
This could help to stop a director who has a history of Phoenixing.
If someone realises they are a victim of a company that has Phoenixed leaving debts behind, they can write to the Secretary of State for Business, Innovation and Skills because the new law gives them new anticipatory powers.

The law is usually retrospective, but writing to him may encourage him to use a new power which means he can look at a director’s past behaviour. If they have Phoenixed, and left debts behind a number of times, the Secretary of State can now apply to a court to ban them from being a director.

Also, make sure you tell Citizens Advice Consumer Helpline on 03454 040506

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