Can I be a company director if I am an undischarged bankrupt?

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For the record, I’m asking this for a friend! My finances are totally in order. But a colleague is technically an undischarged bankrupt. We’d like to start a company together, and I’m wondering whether it will be an issue. I’d ideally like him to be a company director if possible.

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It is not possible to be a company director if you are an undischarged bankrupt, unless the court grants permission. Otherwise, he will have to wait until he is granted and order of discharge.

He may be a shareholder in your company in the meantime, but that’s the extent of it until his situation changes. When it does, you can easily appoint him as a director.

a year ago
 

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