Filing a DSO1, knowing there are outstanding debts, IS IT WORTH IT???
Updated: Jul 1
The Risks to Directors are 100% real!
Filling a DSO1 Dissolution Notice at Companies House knowing there are outstanding debts can lead to serious consequences for a Company Director, and in this case, even imprisonment.
Is it really worth it???
Director from Manchester, appeared at Manchester Crown Court on Friday 24 June 2022 where he was sentenced to 24 months.
This was the first successful criminal prosecution of a bounce bank loan fraudster for the Insolvency Service, which also saw the Director disqualified from acting as a director for 7 years.
Notes to editors
The sentence result was announced at Manchester Crown court:
Section 2 Fraud Act 2006 (Fraud by false representation) - 24 months’ imprisonment (immediate)
s1007 Companies Act 2006 - aggravated striking off offence - 20 months’ imprisonment (to run concurrently).