In this month's legal updates, experts at law firm Gateley plc consider overcoming the death of a sole director shareholder, firm not liable for third party loss, changes to UK anti-money laundering rules hit PSC regime
Overcoming the death of a sole director shareholder
When a single individual is both the sole director and shareholder of a company, and there is no company secretary, the company can find itself unable to act on the death of that individual. This was the case in Kings Court Trust Limited & anors v Lancashire Cleaning Services Limited [2017] EWHC 1094 (Ch) which arose out of the death of Eric Pilling, the sole director and shareholder of Lancashire Cleaning Services Limited (LCS).
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