Bastwards

texranger

chris_p_bacon wrote: »

I will be strict from now on, I suppose I've been lucky this hasn't happened to me before and I've learnt my lesson. I think the key point is to stop all supplies when invoices go over 60 days. On large orders I'm going to make a point of phoning the financial director who sent me that email (and has never met me) to check he's not planning to syphon off the company after I've supplied it again. ....I won't be as blunt as that, but he'll know where I'm coming from and I won't let them forget it.

Thanks again for your help and thoughts. It has helped me to put things in to perspective. You live and learn I guess.

another tell tale sign of something is up is if a company say usually orders 30 items a week and has done for months and then all of a sudden this jumps to 100+ a week. it could be that they have suddenly got a boost in sales or they could be stocking up on account to close the business down owing you for the goods, set up a new bus in a new name with the stock they have got from you or are about to sell the business and the more stock they have the more money they can sell it for and you get nothing as they sell the company without debts.

martindow

How difficult would it be for them to get someone else to do the work you are doing? If they could not easily replace you, you could send pro forma invoices and only provide goods or services once paid for.

gibbyni

Would it not be the business who owes the money. ie ABC ltd was who you supplied, if XYZ ltd then buy them then thay are liable for the debt. A director is just a share holder in the business so I cant see how you would sue him.

if XYZ ltd have a problem well thats there fault the didnt do proper due dilligence.

chris_p_bacon

martindow wrote: »

How difficult would it be for them to get someone else to do the work you are doing? If they could not easily replace you, you could send pro forma invoices and only provide goods or services once paid for.

Thanks Martin but they wouldn't stand for that and they could easily replace me. The people on the ground like using me because I never let them down and they like me, but the management whom I never meet are another story.

gibbyni wrote: »

Would it not be the business who owes the money. ie ABC ltd was who you supplied, if XYZ ltd then buy them then thay are liable for the debt. A director is just a share holder in the business so I cant see how you would sue him.

if XYZ ltd have a problem well thats there fault the didnt do proper due dilligence.

I wasn't suggesting I sue the director, just expressing my annoyance that he's buying and selling the same business's (for tens of millions) to save tax and wriggle out of his responsibilities, but I do agree with you I thought the liabilities would remain with the new owner, I thought it was like buying a house, you buy it and undertake all responsibility there of. If you didn't know about the debt's then its still your problem, you should have...

I have a bit of an update thought! I have talked to the new owner, again and he has agreed to pay half. I've also been talking to the guys on the ground who sold it and they have agreed to pay the other half, if its split in to small £500 wedges and added on to future invoices, presumably so the managment don't find it. So its a bit of a result! Am celebrating with a beer. :beer: