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After Marston's have lost the MOJ contract for magistrates court fines enforcement,they have just started a liquidation process on a few of the company's under the umbrella.

My heart bleeds

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Which companies do you mean?

Are they ones not showing as in liquidation now?

I can only see 8 companies of which he's been a director that have been put into liquidation and those are all Members Voluntary Liquidations which are not connected to lack of money, it is just a method of bringing a company to an end when it has fullfilled its function. A declaration of solvency has to be filed in such liquidations (Insolvency Act 1986 sections 89 and 90.)

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So people liquidate viable solvent companies because they have got bored of them then. My observation on these things is that directors keep the multiple companies running even if their turnover is only a couple of quid a year so they can hide their money there if needs be. Also handy for taking out second mortgages on premises etc. In short, winding up a company isnt a method of first resort.

Edited by Andyorch
Typos

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My observation on these things is that directors keep the multiple companies running even if their turnover is only a couple of quid a year so they can hide their money there if needs be. Also handy for taking out second mortgages on premises etc.

 

Keeping a Limited Company open when it is has a turnover of a 'couple of quid' a year is simply barmy. There would still have to be audit reports etc and other regulatory company returns and the accountancy fees alone would not be cheap.

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They are closing company's because they have lost the moj contract. 150 employee redundant and halved the self employed enforcement agents

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you get small co exemptions so you dont need to file full accounts etc.

loom at the history of directorships for the person who runs London Pumps. has more than 10 other co's just sitting idle with shared mortgages on the same property just waiting for one co to fail so he can shovel the assets down the line.

No need to phoenix then, just use a differetn letterhead.

Keeping a Limited Company open when it is has a turnover of a 'couple of quid' a year is simply barmy. There would still have to be audit reports etc and other regulatory company returns and the accountancy fees alone would not be cheap.

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Which companies do you mean?

Are they ones not showing as in liquidation now?

I can only see 8 companies of which he's been a director that have been put into liquidation and those are all Members Voluntary Liquidations which are not connected to lack of money, it is just a method of bringing a company to an end when it has fullfilled its function. A declaration of solvency has to be filed in such liquidations (Insolvency Act 1986 sections 89 and 90.)

 

They would hardly have invoked this "method" if this profitable contract had been awarded, as sgt bush says. Or are you saying that these reductions would have taken place anyway?


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