Number of times company owners go bust?

Georgie_Porgy

How many times can the owner of a company go bust and then just set up another company with a different name?

How do company owners get disqualified from setting up a new company?

Can an owner who has gone bust before actually sue you if you owe them money?

tight_jock

Georgie_Porgy wrote: »

How many times can the owner of a company go bust and then just set up another company with a different name?
As long as they have not been disqualified, I think you will find there is no limit.
How do company owners get disqualified from setting up a new company?
Generally by upsetting one of the government agencies. ie HMRC They can then be banned for up to 15 years ( I think)

Can an owner who has gone bust before actually sue you if you owe them money?

Depends if its business or personal. If it`s personal and the debt was liable during the undischarged period, then any monies raised would be due to the OR. Probably wise to get CAB advice on this one.

:beer:
TJ

Georgie_Porgy

addo79 wrote: »

sounds like your wanting dodgy advice their!!! dont think ya gonna get many answers for that one!

No, there's nothing dodgy about me. I'm totally legal, decent, honest and truthful. I am not and have never been a company owner and am just trying to find out some information for a friend of mine.

My friend is having trouble with a company and has been told the chap who owns it has gone bust a number of times and just sets himself up again with a slightly different name. Certainly looks that way too from the Companies House website.

My friend is having problems in arriving at an amicable agreement over the amount of money owed for a job this company did on which he has experienced bad workmanship and poor quality products. They are threatening my mate with court action if he doesn't pay in full (£8,000).

He's just a bit brassed off that the company's owner can be unethical enough to keep going bust and setting up again and feels he has a genuine complaint.

He doesn't want to go to court but will do if he has to but just wondered how a court would view this owner who clearly is morally corrupt.


Seems like this owner wins all ways!

Georgie_Porgy

tight_jock wrote: »

Depends if its business or personal. If it`s personal and the debt was liable during the undischarged period, then any monies raised would be due to the OR. Probably wise to get CAB advice on this one.

:beer:
TJ

Thanks tight jock - it is a debt payable to his business.

Georgie_Porgy

addo79 wrote: »

ahhh now i see. my appologies !!!!

My fault for not putting enough detail originally.

Bean_Counter

Georgie_Porgy wrote: »

How many times can the owner of a company go bust and then just set up another company with a different name?

How do company owners get disqualified from setting up a new company?

Can an owner who has gone bust before actually sue you if you owe them money?

Hopefully this link will be of assistance or this.