If you are a creditor of an insolvent company or a bankruptcy, Oliver Elliot can help you address your claim and concerns arising from the insolvency and the effect of Section 103 Of The Insolvency Act 1986.
The effect of Liquidation on the powers of the Directors is to cause them to terminate.
Section 103 Of The Insolvency Act 1986 – Cessation Of Directors Powers
On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee (or, if there is no such committee, the creditors) sanction their continuance.
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