Today John talks about company names and insolvency practice. Where a company goes into liquidation, the directors of the old company cannot set up a new company using a name similar to the old company.

E.G. if John Smith Limited goes into liquidation the new directors cannot set up a new company called John Smith London Limited because the names are too similar.

This is a criminal offence, and in the event of the new company enters into an insolvency process the directors of that company will be personally liable for the debts of that company.