Dealing with the emotional, mental and financial fall out of having to place our company of 39 years into Creditors Voluntary Liquidation (‘CVL’), we then found ourselves in the unfamiliar position of receiving notice from the Insolvency Service (‘IS’) confirming that they were investigating our conduct as directors with a view to issuing Director Disqualification Proceedings against us.
We were both scared, horrified and at a loss of how to deal with the matter. In the event we were disqualified this would have a significant impact on our reputation and ability to generate a living.
What We Did
At the outset there was an unwillingness to retain solicitors and we both attempted to deal with matters ourselves. It quickly became apparent we were both not equipped to deal with the issue.
After undertaking research and making enquiries of business contacts we approached Gulshan Kumar (‘Gulshan’). We were immediately put at ease by Gulshan with his approach, knowledge and experience of dealing with such matters. Gulshan carefully took the time to not only explain the legal framework, role of the IS and the process to us, but to actually personalise the matter and listen to our concerns treating us as individuals as opposed to just another case.
Gulshan methodically and reassuringly corresponded with the IS providing much needed breathing space to enable us time to sit down and review the matter. Having gone through this process Gulshan provided us with an opportunity to put across our version of events both on paper and in two separate face-to-face interviews with the IS.
Gulshan attended both interviews adding great value in assisting in the answering of questions, raising questions of the IS and pointing out any deficiencies in the IS’s own case. Gulshan also ensured the monumental financial, emotional and professional impact the whole process had not only on us both, but also our families to include our children was not lost on the IS.
The Result – No Director Disqualification Proceedings To Be Issued
Although appearing like a significant uphill battle at the outset, the Senior Investigator at the IS confirmed his investigation was complete and had concluded that the facts did not give rise for Director Disqualification Proceedings be issued against us both.
The enormity of the relief coupled together with us both being free to continue with our lives without restriction is difficult to put into words. Despite our initial reluctance to instruct solicitors, it resulted in being the key decision in defeating the serious financial allegations raised against us by the IS and enabling us both to continue with our professional careers.
Thank you, Gulshan. Anyone who finds themselves in a similar position should not hesitate to contact you. We did and are thankful that we did so!
KB & NT, Leicester