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|Insolvency Service Enforcement Outcomes (Experimental Statistics): July to September 2015|
|Wednesday, 18 November 2015|
In July to September 2015, 253 director disqualifications were obtained (down 27% compared to Q3 2014). Of these, 43% were for over 5 years (up 8 percentage points compared to Q3 2014).
The number of directors disqualified continued to decrease year-on-year.
Bankruptcy restrictions continued to decrease year-on-year, as did the number of bankrupts whose discharge was suspended.
The average period of director disqualifications and bankruptcy restrictions both increased.
Decreases in enforcement outcomes have been driven in part by decreasing numbers of insolvencies.
Key Findings in July to September 2015
Enforcement outcomes are linked to numbers of insolvencies
Corporate insolvencies and bankruptcies have been on a decreasing trend since 2012 and 2009 respectively. This is a driver of changes in the number of enforcement outcomes. ￼
Director disqualifications decreased for the fourth consecutive quarter
In July to September 2015, 253 director disqualifications were obtained (down 27% compared to Q3 2014). Of these, 43% were for over 5 years (up 8 percentage points compared to Q3 2014). ￼
The number of companies wound up in the public interest remained on trend
There were 18 companies wound up in the public interest in Q3 2015, three more than the same quarter the previous year, and broadly in line with the general trend of between 20 and 50 per quarter ￼
Bankruptcy and debt relief restrictions continued to decrease
In July to September 2015, there were 101 bankruptcy and debt relief restriction orders and undertakings obtained (down 39% compared to Q3 2014). These have decreased for seven consecutive quarters.
Suspension of discharge orders decreased for the 11th consecutive quarter
There were 163 suspension of discharge orders obtained in Q3 2015, down 16% compared to the same quarter the previous year. Of these, 90% were against a bankruptcy order made via a creditor’s petition.
The average period of disqualifications and bankruptcy restrictions increased
The average period of a director’s disqualification was 5.9 years, up 0.6 years compared to the same quarter the previous year. The average period of bankruptcy restrictions was 5.2 years, up 0.4 years.
These statistics relate to individuals that have acted as the director of a company in Great Britain, or a company that has an interest in Great Britain, and have been disqualified as a result of the work of the Insolvency Service.
Restrictions imposed on an individual that has been disqualified from being a director include not being able to act as a director of a company in the United Kingdom or be involved in the promotion, formation or management of a company without permission from the court. Further details can be found in the Guide to Insolvency Service Enforcement Outcomes.
These statistics do not represent the total number of director disqualifications obtained. Rather it represents the number of director disqualifications obtained as a result of the efforts of the Insolvency Service. Companies House maintains a record of all director disqualifications, including those presented here.
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