Lisa Thomas, insolvency practitioner at Neville & Co looks at the importance of adequate protection for customer’s deposits
One of the first questions we are often asked by directors of a company in trouble is: “Will I get disqualified from being a director?” It is actually a rare occurrence to be banned as a director but one of the worst offences that will put directors at risk of being struck off is for taking deposits from members of the public and not then fulfilling the service or being able to refund the deposit.
It is a common occurrence in some trades for customers to pay a deposit in advance for things like double glazing, events, solar panels. Most of us do not ha…
Read the full article at: http://www.plymouthherald.co.uk/insolvent-businesses-that-lose-customer-deposits-are-the-worst/story-29802436-detail/story.html
