The government has unveiled plans to introduce an overhaul of Britains insolvency framework designed to prevent a repeat of scandals such as the failures of BHS and Carillion.
New laws would make it easier to bring criminal proceedings against the most reckless employers and directors of businesses in or approaching insolvency, under proposals set out today.
The business department said it was concerned that company directors can unfairly shield themselves from the effects of insolvency and in the worst cases profit from business failures while workers and small suppliers lose out.
The Pensions Regulator could also be…
Read the full article at: https://www.thetimes.co.uk/article/reckless-directors-are-targeted-in-overhaul-of-insolvency-rules-55wvnjrxd
