We all heard about Kids Company when it’s collapse hit the news in 2015. How could we avoid seeing the colourful Camila Batmanghelidjh protesting that she had done nothing wrong!
The Insolvency Service is now investigating the directors conduct and is set to hand out some hefty disqualifications to all nine of the directors.
Ms Batmangehelidjh will not escape either. Although she wasn’t a formal director at the time, the Insolvency service will argue that she acted as a de facto director (she had all the power of a director but was not formally appointed) and as such she should be treated the same as the others.
This case serves as a reminder that de facto directors will be treated the same as appointed directors when it comes to investigation into the directors conduct of a failed company.
For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or to take advantage of our free consultation, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.
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