Yorkshire based Business Leaders Working to Change the Landscape of Debtor Payments
Bradford based credit industry experts are working with the Government to change the landscape of debtor payments.
Yorkshire credit control and debt recovery experts, Corporate & Commercial Credit Solutions Limited are working closely with Government representative Paul Uppal to change the liabilities attached to directors of limited companies.
Rob Lewis, Managing Director of Corp & Comm, commented:
‘Too many businesses, across all industry sectors, are experiencing more and more the phenomenon of rogue directors. This is where directors are deliberately running up huge debts against a company to then close it down and phoenix as another company almost overnight, safe in the knowledge that they individually have no responsibility for the debts of the limited company they run. It is our responsibility as business leaders to stop this practice and effect change for the good of all’.
There are two schools of thought as to how to change legislation and thereafter the effects upon the directors: the first, to directly assess the ability of directors to run their business and, should they fail in their duties, prevent them and others around them from doing so again for a considerable period of time.
The second proposal is that the administrators and practitioners of the businesses should be held responsible for ensuring that companies are set up correctly in the first instance by legitimate business people and to hold others to account should companies be closed too readily.
Corp & Comm will be addressing the community as to what they would like to see change, how to bring some responsibility and liability to rogue directors and what measures they think would best effect this change.
As with anything Parliamentary, this process is not going to be a quick one so time is on their side. They will be posting updates to their website and social channels and are encouraging businesses to email their views directly to [email protected]