Sole director/shareholder problems

Problem where a sole company director and shareholder dies

Since April 2008 a company secretary is no longer required in addition to a director of a UK private company.  Therefore the executors or personal representatives of a sole shareholder and director of a company will have problems. There is no one to appoint them as directors of the company, for example to run the business in the period immediately after death.  Also, there is no one authorised to register a transfer of the shares to a beneficiary.  The only option is to apply to the court, which is expensive and can be a slow process.

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