Re Pamstock Ltd
| Jurisdiction | England & Wales |
| Judgment Date | 05 January 1994 |
| Date | 05 January 1994 |
| Court | Chancery Division |
Chancery Division
Company - director - serious default
In the context of the failure by the secretary of a company, also one of its two directors, to put in place an adequate system of management, and his allowing the company to continue to trade beyond the point at which trading should have ceased, the failure to file accounts and returns promptly was also a serious default.
Mr Justice Vinelott so held in the Chancery Division on November 24, when disqualifying a former director of Pamstock Ltd for two years.
HIS LORDSHIP said that since the decision of the Court of Appeal in In re Seven Oaks Stationers (Retail) LtdUNK ((1990) BCC 765) it seemed to have become the practice of the Official Receiver to include in his report every matter which could be the possible subject of a complaint.
While it was right that he should put before the court details of all companies in which a respondent had been a director and which had gone...
To continue reading
Request your trial
-
Re Grayan Building Services Ltd
... ... 10F–G , 11B–H , 14G–H , 15A , F–16A ) ... Dicta of Peter Gibson J. in In re Bath Glass Ltd. [ 1988 ] B.C.L.C. 329 , 332 and In re Pamstock Ltd. [ 1994 ] 1 B.C.L.C. 716 approved ... Dictum of Lindsay J. in In re Polly Peck International Plc. (No. 2) [ 1994 ] 1 B.C.L.C. 574 , 583 considered ... Decision of Arden J. reversed ... The following cases are referred to in the judgments: ... Bath Glass Ltd., In re ... ...
-
Re Kentford Securities Ltd: Director of Corporate Enforcement v McCann
...LTD, IN RE; DIRECTOR OF CORPORATE ENFORCEMENT v COLLERY 2007 1 IR 580 2006/15/3109 2006 IEHC 67 PAMSTOCK LTD, IN RE 1994 BCC 264 1994 1 BCLC 716 POLLY PECK INTERNATIONAL PLC (IN ADMINISTRATION), IN RE; SECRETARY OF STATE FOR TRADE & INDUSTRY v ELLIS & ORS (NO 2) 1993 BCC 890 1994 1 BCLC 57......
-
Re AG (Manchester) Ltd ((in Liquidation)); Official Receiver v Watson and another
...by way of mitigation on the length of disqualification… It follows that I agree with the approach of Vinelott J in In re Pamstock Ltd [1994] 1 BCLC 716, [1994] BCC 264 when he said that it was his duty to disqualify a director whose conduct “fell short of the standard of conduct which is t......
-
The Secretary of State for Business, Energy and Industrial Strategy v Edward Charles Ormond Steven
...attempting to assess more generally his present suitability for directorship — per Walters & Davis-White, op. cit. at para. 4–12, citing Re Pamstock Ltd [1994] 1 BCLC 716, 737, as relied upon by Mr Bamford — does not prevent the court from considering what the director might reasonably have......
-
Wrongful Trading: An Impotent Remedy?
...Cork Report p. 404, para. 1805, Re Produce Marketing Consortium Ltd (1989) 5 BCC 569 per Knox J. at p. 595. (16) See Re Pamstock Ltd [1994] 1 BCLC 716 per Vinelott J at p. 737 e-f. (17) See Hicks A. (1993) 'Advising on Wrongful Trading', 14 The Company Lawyer 16. (18) See ref. 17. (19) [199......
-
Leave to Act as a Company Director Following Disqualification: Re Barings plc
...This impression is strengthened by the emphasis on rationales such as deterrence and denuncia-tion (on the latter see Re Pamstock Ltd [1994] 1 BCLC 716, 737, [1994] BCC 264, 282) more usually associated with crim-inal law. (12) See eg Re New Generation Engineers Ltd [1993] BCLC 435; Re Fire......
-
What Makes a Director Fit? An Analysis of the Workings of Section 17 of the Company Directors Disqualification Act 1986
...of conduct which is today expected of a director of a company which enjoys the privilege of limited liability”.2525In re Pamstock Ltd [1994] 1 BCLC 716 at 736. This test of “unfit” conduct is much closer to the aims of corporate governance measures that, together with statutory directors’ d......