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If you are a creditor of an insolvent company or a bankruptcy, Oliver Elliot can help you address your concerns arising from the insolvency and section 210 of the insolvency act 1986 can help.

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Insolvency Offences

Section 210 of the Insolvency Act 1986 is about a failure by a Director or Officer to properly assist in a winding up by material omissions from statement relating to company’s affairs

Section 210 of the Insolvency Act 1986 is the Section that addresses misconduct by a Director or Officer in the course of winding up by material omissions from statement relating to company’s affairs

Section 210 of the Insolvency Act 1986 is applicable to Liquidation.

(1)When a company is being wound up, whether by the court or voluntarily, any person, being a past or present officer of the company, commits an offence if he makes any material omission in any statement relating to the company’s affairs.

(2)When a company has been ordered to be wound up by the court, or has passed a resolution for voluntary winding up, any such person is deemed to have committed that offence if, prior to the winding up, he has made any material omission in any such statement.

(3)For purposes of this section, “officer” includes a shadow director.

(4)It is a defence for a person charged under this section to prove that he had no intent to defraud.

(5)A person guilty of an offence under this section is liable to imprisonment or a fine, or both.

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This page is not legal advice and should not be relied upon as such and is provided for information purposes only. You can Contact Us on the specific facts of your case to obtain relevant advice via a Free Initial Consultation.