cheap viagra buyHindsight, they say, is always 20/20. When a company goes into insolvent liquidation, it immediately puts the actions or inactions of the directors under the spotlight.
Why did he do it? Why did he do it then? Why did he not do it? Surely it was obvious…? It did not seem important at the time…etc.
The liquidator is obliged to report to the Director of Corporate Enforcement (“ODCE”) under the Company Law Enforcement Act, 2001, on the actions of each director and, depending on the assessment, to decide whether the director acted “honestly and responsibly” in his conduct of the company’s affairs. If a director’s actions (or inactions) are found lacking in these regards, then the liquidator may be required to take a High Court action for Restriction or Disqualification against the director or directors concerned. The sanctions run for five years – if you need to operate under the umbrella of a limited company for your trade then you will be severely constrained.
The essence of the exercise is the assessment by the liquidator of your actions as director. Certain factors carry weight in this assessment. It pays to know themcan you buy viagra in dubai.
cheapest generic viagra cialisInsolvency. Almost counter-intuitively, insolvency in and of itself is not a major factor – this recognises that economic misfortune can arise with no particular blame. As a corollary, scale of insolvency is not necessarily a major factor, either – so a deficiency of €1,000,000 is not ten times more damning than a deficiency of €100,000. It all depends on the circumstances and the necessary scale of the company’s affairs.
Swift action. Given that mere insolvency in itself is not damning of a director you should also be aware that consciously trading whilst knowing that your company is hopelessly insolvent may be held against you. Once you realise that your company cannot avoid liquidation, act immediately to put it in motion. Meet an Insolvency Practitioner and consider his advicecheap viagra india.
Phoenix Syndrome. Have the directors a history of running up debts, buying the assets cheap from the company, and setting up a new company to run exactly the same business? If so, they may find that they are under severe scrutiny and perhaps lining themselves up for disqualification.
cialis pillsLost deposits. When double-glazing companies go down, the cry arises “They took my deposit on Monday and stopped on Tuesday and now I have no money and no windows”. It can be difficult to close off a company unless it is done suddenly and without notice to staff, which will keep collecting deposits right to the end, so there will always be awkwardness. Earn some brownie points by ensuring that deposits are held to one side, not banked, and are returned to the customers after ceasing to trade.
where to buy cialis online in ukRevenue Bank. It is all too easy to miss paying P.A.Y.E. and V.A.T., when under pressure to pay wages and essential suppliers. If it becomes a habit and it can be shown that the directors cynically funded their trade from Revenue debt, then this can work against them in considering restriction.
cialis canada cheapFraudulent Preferences. Beware of the temptation to pay off self-guaranteed overdrafts and bank loans. Even innocent-seeming actions such as paying receipts into an overdraft, as one always does when trading normally, can be interpreted as preferring oneself over the body of other creditors. Do the right thing - keep the receipts aside for the liquidator and you will know that it reflects well on your judgement and propriety as a director.
where can i buy viagra online yahooRecords. Keep your books and records up to date. Prepare management accounts. Hold regular meetings and minute your discussions and plans for the business. Record the actions you took to try to save the business. All of these reflect well on a director.
buy viagra in mexicoCo-operation. Give the liquidator your assistance with assets, records and his reasonable ongoing queries. Make yourself available to help.
can you buy cialis over counter mexicoAll of these features are those that should be expected of a responsible director - one that is worthy of being allowed to continue to deal with the public under the protection and privilege of limited liability. Take advice if you need guidance on any aspect.
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