disqualification order
Definition
Court order banning an individual for a stated period from becoming the director of a firm. When a business is declared bankrupt by a court, its current and past directors (those associated with the firm for a certain number of years usually three prior to bankruptcy) may be so disqualified if they are indicted for failure to discharge directors' duties, or for fraud or misfeasance.
Mentioned in these definitions
Popular 'Corporate, Commercial, & General Law' Terms
disqualification order in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/disqualification-order.html
