Chasing a debt from a business 'struck off and dissolved'

heathcote123

Hi

I am owed about a thousand pounds from a company who according to companies house have recently been 'struck off and dissolved'. They are now trading under slightly different name, in the same premises.

I was never notified as to a liquidation or anything like that.

They agreed to a monthly payment plan, made one payment and never made any further payments.

I'm used to dealing with liquidators etc, but it seems as if there was no liquidation process here.

Any idea on the process of getting the money back from a company in such a state (other than shouting a lot and making a pain in the !!!! of myself)?

InsideInsurance

You need to find out more about what has happened.

Presumably they have voluntarily closed the company, it is possible to have the company reinstated for up to 20 years after it is been struck off and if they still dont payup then go down the route of forcing liquidation. This is all going to take time and cost money which you may never see again.

I have heard that if the directors miss represented the companies situation and filled a 652(a) form to wind the company up when it was actually still trading that they become personally liable due to the miss representation but I dont know how true that is.

Probably best reading the companies house guide which also includes about getting a company reinstated http://www.companieshouse.gov.uk/about/gbhtml/gp4.shtml#ch1

BigAunty

Does this type of practice qualify as a 'phoenix company' or not quite as this company dissolved itself rather than entering the insolvancy route??

https://payontime.co.uk/phoenix-companies-and-insolvent-trading-businesses

http://www.actionfraud.police.uk/fraud_protection/phoenix_company_fraud

antrobus

The phrase 'struck off and dissolved' means that the company was closed down by the Registrar - usually because said company has failed to file its annual return or accounts - at which point all its assets are transfered to HM Treasury. As far as the civil law is concerned, the debt dies with the original company.

Obviously, if you're running a company, and things aren't going too well, and there are no assets, simply liabilities, you can simply not file a return, let the Registrar close it down, and then start again.

One could speculate about the actions of the directors of said company, and indeed they might well be guilty of some crinimal offence, but that won't help recover any money. The thousand pounds is just a bad debt.

toddle2u

The thousand pounds is just a bad debt.

Good advice - it will cost you more to get the company reinstated and even then the chances are there is no money to pay you.

phill99

You have virtually no chance of recovering this debt. Put it down to experience.

Mistral001

Getting the money will be difficult, but I would not start down the road of it being a lost cause. I have had bad debts. You get that in business, but I have learned from the experience of poor payers when I have made every effort to get the money. Even if it cost a lot of time and effort and more outlay and no money was obtained, the experience of this could be invaluable in the future, let alone the principle of the whole thing.

toddle2u

you guys are so negative!

No it's called realism. You would be better of putting your time and efforts into your existing business rather than chasing something you will never get

Buzby

Knowing where he lives is largely irrelevant. It is the Ltd Co that owes te money, not him. You might make things difficult for him, but not get the money you seek. Having BTDT, life is too short - limited liability is just that, and if the Co has ceased to trade, it is best to move on and be more careful next time.

s_b

heathcote123 wrote: »

Thanks I'll try and find out a bit more tommorow. From a little reading it looks like he would be liable for a 5k fine if he closed it down voluntarily without notifying creditors.

In the meantime, you guys are so negative!. - I know where the director lives & works, and I am more than happy to make his life a living hell

what and get yourself a criminal record

as said the man is of straw
move on but advise any business associates not to do business with him
a grand is not worth getting in knots over
put it down to experience and not get whooped by someone again (yes i know we do and will)