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directors access to financial information

directors access to financial information

Postby jantra » Wed Mar 22, 2017 10:04 am

if a company and some of the board are refusing to provide access to financial records (to other directors) what can be done about it (I'm thinking s388/9 CA2006)....

is this something the police would be interested in or would there be some other authority that this would need reporting to....
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Re: directors access to financial information

Postby atticus » Wed Mar 22, 2017 10:29 am

Police won't be interested. Companies Court action, if anything.

Or these directors can resign - which may be what the others want.
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Re: directors access to financial information

Postby jantra » Wed Mar 22, 2017 10:42 am

just for clarity - we would need to petition the specialist company court of the chancery division?

NB the directors are also shareholders so resignation is not really an option. they just want clarity of the current financial position as there is a board vote coming up regarding a capital investment project...
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Re: directors access to financial information

Postby atticus » Wed Mar 22, 2017 10:50 am

That is the Companies Court. Aren't you already instructing solicitors to fight battles there?
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Re: directors access to financial information

Postby atticus » Wed Mar 22, 2017 10:52 am

Resignation as a director does not affect status as shareholder, absent some specific provisions in the company's Articles or a shareholders agreement.
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Re: directors access to financial information

Postby jantra » Wed Mar 22, 2017 11:18 am

atticus wrote:That is the Companies Court. Aren't you already instructing solicitors to fight battles there?


this is another matter.....there appears to be a common denominator here :mrgreen:
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