The UK’s business department wants stronger investigative powers and punishments against directors post-insolvency, while setting a path for more active and responsible shareholder stewardship.
Greg Clark. Photo: Shutterstock
Punishing the bad behaviour of directors and recouping creditor funds during corporate insolvencies is the target for the UK government.
A consultation by the Department for Business, Energy & Industrial Strategy (BEIS) sets a direction towards stronger powers to investigate directors of insolvent businesses, disqualify those that sell a struggling company knowing it would fail, and “strengthen” the role and responsibilities of shareholders in stewarding companies.
“Britain has a good reputation internationally for being a dependable place to do business, based on required high standards,” said business secretary Greg Clark
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