Death of a Sole Director - The Pitfalls & Solutions

Introduction

Many private companies limited by shares are run by a single director (who is also the only shareholder of the company). This can cause significant issues for the future of the company in the event this person dies without putting succession planning in place.

If you are involved in advising small private companies who may need to understand how to appoint an additional director in these difficult circumstances, then this short introductory level 30-minute webinar is for you.

What You Will Learn

This webinar will cover the following:

• ‘Transmission of the shares’ and the practical problem
• Model Articles - provision for the executor to appoint a director?
• Table A - provision for the executor to appoint a director?
• Why the Duomatic Principle should NOT be relied on in these circumstances
• Application to court to rectify the register of members under s.125 CA 2006 (and recent cases in support)
• Planning ahead to avoid the issue

This webinar was recorded on 15th January 2024