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Orders made to restrict directors of “phoenix company”
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High Court: a) grants order restricting executive director of "phoenix company" that incurred substantial losses and operated as a hotel without a liquor licence; b) grants order restricting as a director the spouse of the primary director, who had "real moral blame" in acting as the required second director of a "phoenix company"; but c) refuses to grant an order in respect of two other directors who appeared to have taken no actions concerning the company.
Company law - application to restrict directors - s.150 of the Companies Act, 1990 - "phoenix company" - successor of company that had collapsed - former company failed to file returns - struck off - operation of hotel - trading without liquor licence - non-resident directors - director with no role in management or operation of company - spouse of executive director - "ties of affection" - whether "real moral blame" attached to director - other directors with no role in company.
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