Restrictions on Re-Using a Company Name - An Introduction

Introduction

A company name distinguishes one company from another, similar to how a brand name distinguishes the products/services of a company from other companies. Often the company name and brand name are the same and directors will have spent years building up goodwill in that name.

Undoubtedly the COVID-19 pandemic has brought economic uncertainty to companies and if a company has gone into liquidation the directors may wish to set up a new company with the same or a similar name (i.e. a prohibited name) to retain the goodwill in that name.

Section 216 of the Insolvency Act 1986 places severe restrictions on directors being able to do this and there are serious consequences should the correct procedure not be followed.

This webinar will provide you with an introduction to the law governing the re-use of a company name and the requirements directors must comply with.

What You Will Learn

This webinar will cover the following:

• What is considered a prohibited name?
• The relevant law
• Who the law applies to
• The consequences of breaching the law
• The statutory exceptions to the law
• How to make an application to Court, if necessary, and practical tips

This webinar was recorded on 3rd November 2020