Brothers banned from being directors after breaching legal duty

Two brothers have been banned from being company directors after they breached their duty to creditors when their business went into liquidation. The two men ran a company that provided payroll services. The business got into financial difficulties and was wound up in October 2012. An Insolvency Service investigation found that two weeks after the

Government to tighten up the Prompt Payment Code

The government is tightening up the Prompt Pay Code (PPC) to encourage firms to pay invoices quicker and so improve cash flow for smaller firms. Business Minister Matthew Hancock says the PPC will now promote 30-day terms as standard and introduce a 60-day maximum limit. Unless firms can show there are exceptional circumstances that justify

Company awarded damages against former director

A steel production company has won a damages claim against a former director and members of his family after they formed a rival start-up business. The director, his son and daughter-in-law all worked for the production company at the same time. The son and daughter-in-law left to set up their own business in the same

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