This means they must meet on a regular basis, act as a company preparing and scrutinising financial reports, as well as submit accounts and returns to HMRC and Companies House to ensure that they do not leave themselves open to claims of negligence.

[See ‘Limited’, ‘PLC’, ‘Shareholders’ and ‘HMRC’.]

H

High Court Enforcement Officer

A High Court Enforcement Officer (HCEO) is an officer of the High Court of England & Wales responsible for enforcing judgments of the High Court, often by seizing goods or repossessing property belonging to the debtor.

They only operate in England & Wales. In Scotland, High Court Enforcement Officers are called Sheriff Officers or Messengers-at-Arms. They may also be known as Judicial Officers, and they all have power to take enforcement action against debtors.

In an insolvency and restructuring context HCEOs will enforce a court judgment by ‘executing’ against the property of the individual or business who owes another money and, having not paid, they have been sued and lost the resulting case.

[See ‘Execution’ and ‘Litigation’.]

High Value Dealers

High value dealers handle cash payments of €10,000 or more in exchange for goods.

A tradesperson such as an electrician or builder could be regarded as a ‘high value dealer’ if they receive a payment for goods and services, such as building an extension and are ‘in scope’. This means if the goods they deal with are valued at more than €10,000, or the equivalent in another currency.’

[See ‘Anti-Money Laundering’, ‘Money Laundering Reporting Officer’ and ‘National Crime Agency’.]