IVA & business owner

catherinew_2

I am confused - can you still be a director and have an IVA, my company is tiny.. and i mean tiny.. and i am really struggling

Gimpsdad

Short answer? Yes. Although you may still be able to be a company director even if bankrupt as well, despite what some may say.

toddle2u

Although you may still be able to be a company director even if bankrupt as well, despite what some may say.

Only with leave of the Court.

People in an IVA can still be Directors

Gimpsdad

Correct, you do need permission from the court to do so, but it is still a common misconception that BR automatically disqualifies people from being a company director when it ain't necessarily so.

Flyright

Bankruptcy does mean that an individual cannot be a director of a company except where leave of court is obtained. Otherwise all directorships must be resigned and the individual is not allowed to take part in the management of a company in any way. To do so breaches the the restrictions imposed during the bankruptcy and such a breach is a criminal offence.

toddle2u

but it is still a common misconception that BR automatically disqualifies people from being a company director when it ain't necessarily so.

Correct

Bankruptcy does mean that an individual cannot be a director of a company except where leave of court is obtained

Err I think that has already been mentioned