ABSTRACT
This chapter deals with the management of the company, from its initial inception through to winding up, and stresses the important role of key people involved in the company, primarily the directors, the company secretary and the auditors. Moreover, that behaviour had to be such as to make the person concerned unfit to be involved in the management of a company. Section 122(g) of the Insolvency Act 1986 gives the court the power to wind up a company if it considers it just and equitable to do so. It may also be used in small private companies to provide a remedy where either there is deadlock on the board or a member is removed from the board altogether or refused a part in the management of the business. In Re Elgindata Ltd it was held that, depending on the circumstances of case, serious mismanagement could constitute unfairly prejudicial conduct, although the court would normally be reluctant to make such finding.
