Disqualification from Future Management Positions
The overall purpose of disqualification is to prevent abuse of bankruptcy and to combat the phoenix syndrome.
Disqualification means that an executive is precluded from participating in the management of certain types of companies for a period of typically three years if the bankruptcy court finds the executive guilty of grossly irresponsible business conduct in a bankrupt company.
Disqualification is therefore particularly problematic for self-employed persons who are dependent on being able to continue to run a business.
We have conducted a large number of disqualification cases and recommend that advice be sought immediately after disqualification proceedings have been initiated. We ensure that you are assigned an attorney with knowledge of commercial conditions who can help clarify the exact circumstances of the bankruptcy of your company.
