Bankruptcy

clairesmith

Myself and my partner run a tiling firm. We have 3-4 men working for us and our general works include residential and shop fit work around the UK.

We have recently learnt that one of the companies we do work for has gone bankrupt or into liquidisation. The company it transpires had been in difficulties for sometime and owe hundreds of thousands of pounds to various different companies us being one of those companies.

What are our rights to get back the 30k they owe us. Is there anything we could do that hasn't been thought of. We have had to raid all our savings including the childrens accounts and may well have to sell the car. Do we need to lose our assests? We feel like total victims. We can not stand that kind of money.

CD Construction Keighley, West Yorkshire. Has absolutely fleeced us and we would really appreciate any advise anyone has to offer.

shadowdragon

clairesmith wrote: »

we would really appreciate any advise anyone has to offer.

Get rid of the company name in the post IMO, I dont think that will be allowed tbh.

k2nga

Best thing you can do is contact the OR and start the ball rolling to get on the creditor list. If they have alot of assets you may see some money but often in cases i have heard you may not see much of your 30k. I wish you all the best.

tigerfeet2006

You need to make sure that their OR is aware of you and the debt that you are owed.

Have a look here
http://www.insolvency.gov.uk/

k2nga

I would not get to worried if they have gone BR and i just checked and they dont have a web presence so i am guessing they are not as big as Barretts

peachyprice

Unfortunatley you'll have to join the list of other creditors, any money from assets will be shared between you all pro-rata. But to be honest when a business goes under it's very unlikely the creditors will get a penny.

I work for a small company, somebody owed us 30k last year, they went bust, sold their assets to their son, who started up the exact same business, the profit from the sale of assets came to the same a the Receivers bill, to the penny.

This is a very familiar scenario unfortunately.

SuziQ

How awful-I really feel for you
Sometimes the only way is to liquidate yourself. Are you members of FSB,to get free legal advice? They were a Godsend for us a couple of years ago.

SuziQ

I have just checked companies house-accounts up to date and still operating? Are you sure? It doesn't normally take long for CH to amend the website in my experience.

k2nga

I think it can take a few days to appear on companies house as a company next to where i used to work went bust and i did the same and went looking in fact the OR knocked on the door and told us as he was expecting a bit of trouble with them not paying there suppliers and the suppliers wanting access to the building.

skintbuilder

anyone reckon a ftva after bankruptcy is any good.
dont know how it works, do i have to sell house to fund one??

hellllllp

tigerfeet2006

SB why don't you start your own thread on this so it doesn't get lost in an unrelated thread.