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Lewis Nedas News

Lewis Nedas Law are London-based solicitors. Frequently rated in both Chambers UK and The Legal 500, we can help you or your business today. Tel: 020 7387 2032.
JAN
09

Outstanding result for Lewis Nedas Law and its Commercial and Litigation Department in company director disqualification case

insider tradingLewis Nedas Law Director and Regulatory Specialist Ian Coupland and Associate Solicitor Adam Creasey have achieved an outstanding result on behalf of an individual who was the subject of Company Director Disqualification Proceedings brought by the Official Receiver on the direction of the Secretary of State.

The case concerned an international Collective Investment Scheme fraud with investor losses totalling approximately £5.5 million.  The disqualification proceedings resulted from the winding up the fraudulent company, following which the Official Receiver then sought to disqualify the individuals concerned in running the scheme for a  period of 12 years under the Company Director Disqualification Act 1996.   

Our client had been accused of acting as a Director and/or Shadow Director of the fraudulent company. The Official Receiver’s Solicitors argued that our client caused or allowed the fraudulent company to make misrepresentations to obtain and/or misappropriate funds in excess of £2 million from members of the public. The evidence in support was extensive and was contained in 6 boxes. The consequences for our client of losing would have been substantial because  not only would it have resulted in him not being able to carry on as a Director in his current business, but there would also have been a substantial costs order award against him, and also potential criminal proceedings with the real risk of a custodial sentence.    

Ian and Adam working with specialist regulatory barrister Jeremy Barnett, Head of Regulatory Law at St Paul’s Chambers, Leeds, successfully presented counter-arguments to the Official Receiver’s Solicitors in our client’s witness statement in reply. This involved a detailed analysis of the case and our client’s actions.  Our client’s witness statement exceeded 15,000 words and included multiple exhibits, and after considering our client’s evidence with their specialist  Counsel, the Official Receiver’s Solicitors accepted our client’s position.  We then successfully negotiated the discontinuance of the case against our client and the recovery of his costs.

   

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OCT
05

Stunning success for Lewis Nedas Law Regulatory Team as disqualified Director given permission to act in another Company

RCJThe Regulatory Team at Lewis Nedas Law and Jeremy Barnett, Head of Regulatory at St Paul’s Chambers, Leeds, have secured a very rare success in managing to obtain permission under Section 17 of the Company Directors Disqualification Act 1986, for a person who was disqualified as a Director for 7 years because he ran a Company which when Liquidated owed several hundreds of thousand of pounds in unpaid tax to be given permission to act as a director in another Company.

Due to the considerable amount of preparatory work and evidence provided, the Secretary of State took the unusual step of not contesting the application and the Judge at the County Court in Central London was satisfied that there was a sufficient need for this person to become a director.

If you require assistance, please contact our experienced specialist Regulatory Team on 0207 387 2032 or contact us using our online enquiry facilities at www.lewisnedas.co.uk

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