Bankruptcy Builder

nneli25

We have our date as 19th February, Building trade down really bad as you all know. Gone fron 7 employees to 2 young apprentices and just getting by. My wife bought a limited company and we are hoping to transfer all the tools and van and the lads etc to this company i will then be on the payrole. Will we be allowed to do this?
Also my wife is a singer and she is worried that my debts will make her lose her trailer, car and singing equipment including the Apple mac computer she uses for her songwriting. The car was in my name till Dec but is signwritten as ger name as a singer, it is used to pull the trailer. The van that we want to transfer is on hp.

MTPOCKET

Hi I am new too, you need to be carefull with moving things especially vehicles etc as administrators will want to who/how you paid for them etc.If they were paid for from your company they may be classed as assets.
Just been through a liquidation my self

nneli25

Van has £3,000 owing on it and is worth roughly 4-4500 my accountant felt that it was required for the business to also keep the 2 lads employed.

nneli25

How did your liquidation go?

MTPOCKET

nneli25 wrote: »

Van has £3,000 owing on it and is worth roughly 4-4500 my accountant felt that it was required for the business to also keep the 2 lads employed.

It went ok thanks just a couple of things remain to be sorted. Then we can try and carry on with life...hopefully.

I think with any possessions/assets its the name on the agreements that loans/hire purchase etc that count.

I hope you get everything sorted.