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The general rule is that there is a bar
on the re-use of a company's registered name and trading name
by a re-start phoenix company.
The penalty for infringement of this
rule can be:
- imprisonment and a
- fine and
- personal liability for all of
the debts of the successor company should that company also
fail at some time in the future.
If you are interested in reading
the law as set out in sections 216 and 217 of the Insolvency
Act 1986 click here.
If you would like to read an actual
case regarding an individual who breached section 216 click
here.
Exceptions
There are three exceptions to the general
rule that a successor phoenix company cannot re-use the original
company registered name or trading name:
If you are interested in :
- Reading about those three exceptions
that are set out in the Insolvency Rules 1986 click
here.
- Reading actual cases concerning
applications to court for the re-use of company names click
below:
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