toddle2u
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toddle2u last won the day on August 7 2011
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lowells bankruptcy pertition *** dismissed ***
toddle2u replied to steve221977's topic in Financial Legal Issues
You know so little!!- 53 replies
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- bankruptcy
- lowells
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They can't! All IP's are Officers of the Courts and they have a duty to investigate the affairs of the company and the conduct of the Directors. They also have a duty to get the maximum return for creditors so if they see a o/d DLA they have to try and get it back. In reality the IP will see the o/d DLA as extra fees for them and will therefore chase it harder to get it from you rather than trying to realise the money for the benefit of creditors The OR is the Official Receiver No need to submit Vat returns
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- ccj
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Tell her your taking insolvency advice with a view to potentially liquidating the company and see what she says
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The CCJ will be registered and now public knowledge and listed in the Stubbs Gazette which these firms use. You will now get plenty of these calls and letters. As advised you can still go for the strike off or wait for HMRC to appoint a liquidator and take your chances with the OR
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Trading whilst insolvent is very difficult to prove and proceedings against you for this can only be started by the Insolvency Practitioner. The IP also needs funds to bring this action and they also need to believe that you have the funds or assets to be able to repay the money for them to make it worth there while coming after you for it. If you think there is a chance of this I would look to appoint your own IP. If you want any recommendations drop me a PM
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£7K + Vat!!!!!!!! Outrageous! Either way if the company is liquidated by an IP nominated by yourself or the OR you will not get a mark against you personally. If the Liquidation goes to the OR you will need to attend an interview to explain the circumstances of the company insolvency. It won't cost you anything and yes there may be a few awkward questions but hey what can they do - you haven't committed murder!! However, if people have the funds to appoint their own liquidator I would always advise them to do this mainly because it's 'cleaner' and less hassle. If you have only the one creditor you should be able to get this done for £2.5K plus Vat. If you haven't got the funds though let HMRC appoint a liquidator and you will have to do the interview with the OR
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cease to trade it then and let all creditors know you have done this and that it has no assets. The in 3 months time strike it off at Companies House
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