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missimaxo

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  1. http://www.bis.gov.uk/insolvency/Companies/insolvent-companies/director-disqualification-and-other-action#4 This may be worth a read....
  2. When you went into liquidation, who were the creditors? Were they trade creditors, HMRC or landlords and who applied to wind the co up? (Don't provide exact figures...can you provide an approximates) What client moneys had been paid into the account as per the terms and conditions of your contract if it was not deposits (rent money?). What stage is the OR's investigation up to? Usually you would have an initial meeting followed at a later stage by one or more in depth meetings at which they will try and clarify facts and also put any potential allegations to you to get your side of the story. I cannot understand why simply not having a client account is an issue if no client monies were lost at the end. If there were clients who lost out, and you led clients to believe that their moneys were secure, then this would be grounds for disqualification as it would br breach of the contracts you offered the landlords, oblivious of whether you were or were not required to secure the moneys by legislation.
  3. I presume you had a limited company that went into liquidation. If so the Official Receiver is now considering disqualification proceedings against you and has therefore spent the last 12 months gathering information from you and third parties (eg. bank/ accountant/ deposit scheme etc.). If you had kept your deposit monies in a separate client account (some deposit schemes actually require you to do this to be a member), when you went into liquidation, those monies would still have been there and could be repaid to the tenants/ landlords and not touched as an asset of the company. If they went into your normal account I presume that you have used the funds for the general expenditure of the company and as such they are now no longer available to repay to landlords/ tenants. If it was written into your management contract then you have breached the contract. The Official Receiver will consider this to be misconduct and disqualify you. I have an example here of someone who did a similar thing http://insolvency.presscentre.com/Press-Releases/10-year-total-ban-for-Newcastle-directors-for-failure-to-secure-lettings-deposits-694bf.aspx although they also did not secure the deposits properly. Whether the Official Receiver will also consider it a prosecutable offence I don't know.
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