31 July 2008
The High Court made an order disqualifying a person ("the Respondent") for a period of four years under Section 160(2)(e) of the Companies Act 1990 in proceedings initiated by the Director on foot of a High Court Inspectors Report, together with an Order for costs in favour of the Director. However, the High Court granted relief to the Respondent to continue to act as a director of and be involved in the management of one identified company of which the Respondent was already a director. The High Court further granted a stay on the disqualification order and order for costs pending an appeal by the Respondent on the undertaking of the Respondent during the stay to give prior notice to the Director should the Respondent intend to be appointed or remain appointed as, inter alia, a director of any company.
Subsequent to the making of the High Court disqualification order, the Respondent successfully appealed to the Supreme Court and the Supreme Court set aside the High Court disqualification order and awarded the Respondent his costs against the Director. Therefore the disqualification order never came into effect.
Details of the outcome of the Supreme Court hearing can be seen under the entry at Tuesday the 28th July 2009 on our website.
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