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Company's Act 2006 - Duties of Directors

ReggieReggie
in General Charlton
Hi all,

I'm an accountant and as such have some knowledge around statutory matters regarding companies and their directors. It's occurred to me that there may be some issues around the current directorship and management of the company that represents itself as Charlton Athletic Football Club. I'll keep it short in the hope that this may generate some further interest.

The Companies Act 2006 sets out the seven general statutory duties of a director. Within this, I'd suggest the following issues are worth looking at:

The need to foster the company's business relationships with suppliers, customers and others; the impact of the company's operations on the community and the environment.

To exercise independent judgment, that is, not to subordinate the director’s power to the will of others. This does not prevent directors from relying on advice, so long as they exercise their own judgement on whether or not to follow it.

To exercise reasonable care, skill and diligence (regulation 25). This requires a director to be diligent, careful and well informed about the company's affairs. If a director has particular knowledge, skill or experience relevant to his function (for instance, is a qualified accountant and acting as a finance director), expectations regarding what is ‘reasonable’ will be judged accordingly (regulation 25).

Of course, CARD or anyone else cannot afford a legal battle with the owners. Perhaps, though, there are avenues that could be approached in regard to the Companies Act 2006 and the Duties of Directors therein.

Just a thought....





Comments

  • Missed ItMissed It
    Is Katrien Meire even a director of Charlton? Some have said she doesn't appear to be paid by Charlton according to the published accounts.
  • ReggieReggie
    On Linkedin she represents herself as CEO and director. There was also the recent Companies House scandal when someone 'resigned' her. So pretty sure. Murray's a Non Executive Director.
  • cafcfancafcfan
    Well @Reggie you're an accountant, so you'll know all about the various bits of companies legislation and the existence of The Companies Investigations Branch, which operates under the auspices of The Insolvency Service.

    As you know, they'll investigate a legitimate referral regarding a company and its directors and might even consider action under the CDDA if directors are deemed unfit. You'd have the skill set to set out a complaint in a manner that would whet their appetite.

    So, get to it mate!
  • ReggieReggie
    Just checked. She's a director on Companies House.
  • andynelsonandynelson
    There are issues here on all counts. Football is a law unto itself unfortunately though.
  • seth plumseth plum
    Remember, they're still taking resignationgate very seriously, and have instructed a top London law firm to track down the perpertrator.
    Mugs.
    Everybody knows it was Frank Bruno.
  • ReggieReggie
    cafcfan said:

    Well @Reggie you're an accountant, so you'll know all about the various bits of companies legislation and the existence of The Companies Investigations Branch, which operates under the auspices of The Insolvency Service.

    As you know, they'll investigate a legitimate referral regarding a company and its directors and might even consider action under the CDDA if directors are deemed unfit. You'd have the skill set to set out a complaint in a manner that would whet their appetite.

    So, get to it mate!

    Hi mate, to clarify I'm a management accountant, which is a specialised field but yes I am aware of organisations you are referring to. I've put it out here in the hope that there may be someone with more relevant skills, such as a commercial lawyer or paralegal, who may advise or look into the matter further. A referral would be far more acceptable if it were made by someone with the appropriate legal training, which, as a management accountant, unfortunately I do not possess. Pretty damn sure what Roland's business strategy is though - but I won't depress you with that !
  • ShootersHillGuruShootersHillGuru
    Reggie said:

    cafcfan said:

    Well @Reggie you're an accountant, so you'll know all about the various bits of companies legislation and the existence of The Companies Investigations Branch, which operates under the auspices of The Insolvency Service.

    As you know, they'll investigate a legitimate referral regarding a company and its directors and might even consider action under the CDDA if directors are deemed unfit. You'd have the skill set to set out a complaint in a manner that would whet their appetite.

    So, get to it mate!

    Hi mate, to clarify I'm a management accountant, which is a specialised field but yes I am aware of organisations you are referring to. I've put it out here in the hope that there may be someone with more relevant skills, such as a commercial lawyer or paralegal, who may advise or look into the matter further. A referral would be far more acceptable if it were made by someone with the appropriate legal training, which, as a management accountant, unfortunately I do not possess. Pretty damn sure what Roland's business strategy is though - but I won't depress you with that !
    Oh go on. Really.

  • ShootersHillGuruShootersHillGuru
    @Reggie,
    Seriously think you should post what you think RD is up to. We've had every conceivable theory and every little helps in understanding what the Belgian is about. I would be very interested to hear your thoughts.
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  • stonemusestonemuse
    ShootersHillGuru said:

    @Reggie,
    Seriously think you should post what you think RD is up to. We've had every conceivable theory and every little helps in understanding what the Belgian is about. I would be very interested to hear your thoughts.

    Me too
  • DessieValleyDessieValley
    Reggie said:

    Just checked. She's a director on Companies House.

    Yeah she is a director but the annual accounts for the football company say that the highest paid director was paid zero (tbf all they are worth).

    The latest annuals accounts for baton ltd also had nil payments for directors, but I think the 2013/2014 accounts showed highest paid director received £100k. So it looks like they are not paying directors out of the cafc group now.
  • AlwaysneilAlwaysneil
    They are probably employed from a Belgian company and then recharged I to the CAFC group. I need to check the accounts to see what itragroup recharges come into the CAFC world, and presumably add to the debt.

    It would remove transparency over director remuneration.
  • ReggieReggie
    Alwaysneil said:

    They are probably employed from a Belgian company and then recharged I to the CAFC group. I need to check the accounts to see what itragroup recharges come into the CAFC world, and presumably add to the debt.

    It would remove transparency over director remuneration.

    Which also goes against the Companies Act 2006 re disclosure of Director's remuneration (if that's the case
    stonemuse said:

    ShootersHillGuru said:

    @Reggie,
    Seriously think you should post what you think RD is up to. We've had every conceivable theory and every little helps in understanding what the Belgian is about. I would be very interested to hear your thoughts.

    Me too
    It's all been said on here before so I'm no Alan Sugar! But there was a quote on here, when Roland took over, from a Saint Truden fan saying they'd got nice new amenities at the ground but had dropped a League and he felt that's where Roland wanted them. It's going the same way. Planned investment in academy and Sparrows Lane so that we farm off some bright young talent each year while having low wage costs in League one = profitable club. While providing a fun day out for all the family - win or lose - maybe we'll get a sofa each. League 1 is where he's planned us to be and where he'll keep us. Doesn't get the English, or why people go to football. All been said before on here but I have to say this is very much the most likely theory to me.
    Won't work. We'll get rid of him - just may take a few years !
  • BlucherBlucher
    Isn't a difficulty that, aside for insolvency related claims, most complaints and claims against directors come from disgruntled shareholders ?In this case, Roland or his alter ego own the shares and so no one else would have the necessary locus to take matters up in that capacity.
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Roland Out Forever!