A company, ABC Limited, engaged in the production of microchips for the South American market, has encountered diffi culties due to a material reduction in orders. Despite the circumstances, Peter, the sole director, has continued to enter into obligations with suppliers. Creditors are considering taking action against the company and against Peter.Required:
(b) Explain the implications of a disqualifi cation order and state whether such a disqualifi cation order could be issued against Peter in his capacity as director. (5 marks)