PPI Reclaiming discussion Part II

tiggrae

marshallka wrote: »

Thats only in the case of compulsory liquidation isn't it. This was voluntary liquidation and could have been CVL type... Been reading up loads and they are very different. Maybe they were a phoenix company. Time will tell.

again a phoenix company by definition rises from the ashes - financial was set up before the other dissolved so accusing people of operating phoenix firms could potentially be seen as libel - sometimes the law is VERY black and white and you have to be careful what you put in writing

- all I can keep say is to be on the safe side go and see a specialist insolvency solicitor beore you make any further contact, in writing with these individuals, just advising caution tis all !!!

marshallka

tiggrae wrote: »

again a phoenix company by definition rises from the ashes - financial was set up before the other dissolved so accusing people of operating phoenix firms could potentially be seen as libel - sometimes the law is VERY black and white and you have to be careful what you put in writing

- all I can keep say is to be on the safe side go and see a specialist insolvency solicitor beore you make any further contact, in writing with these individuals.

Phoenix companies can also be like troness quoted and that section?? Its not just about companies rising from the ashes!

It can be reuse of company names and also similar names too. At first we were all confused on this lot until we investigated further. They could have done this all on purpose.

Section 216 of the Insolvency Act 1986 restricts the use by a Phoenix company or successor business of a similar name or trading style to that of a company in insolvent liquidation.

This is the LAW

http://66.102.9.104/search?q=cache:gO3SHLPDJr4J:www.freshfields.com/publications/pdfs/2007/may28/18775.pdf+phoenix+company&hl=en&ct=clnk&cd=6&gl=uk

tiggrae

marshallka wrote: »

Phoenix companies can also be like troness quoted and that section?? Its not just about companies rising from the ashes!

but I personally wouldn't want to be in the dock arguing the difference with my home on line as potential damages if I lose - again maybe it's the risk manager in me coming out

di3004

tiggrae wrote: »

again a phoenix company by definition rises from the ashes - financial was set up before the other dissolved so accusing people of operating phoenix firms could potentially be seen as libel - sometimes the law is VERY black and white and you have to be careful what you put in writing

- all I can keep say is to be on the safe side go and see a specialist insolvency solicitor beore you make any further contact, in writing with these individuals.

Thanks Tiggrae, yes you did mention about an insolvency solicitor a few weeks back, now how would I actually try to get one of these hun?
Can I find one on the i think its community advice website ? something like that ?

I did contact trading standards where the company are based but they said there was nothing they could do in this situation, and are they actually called insolvency solicitor?, that just specialises in this sort of issue ?

Sorry to be dim here now but just need to be sure that I will be seeking out for the right person, and I know you did explain this to me before.;)
Thanks.

di3004

marshallka wrote: »

Phoenix companies can also be like troness quoted and that section?? Its not just about companies rising from the ashes!

It can be reuse of company names and also similar names too. At first we were all confused on this lot until we investigated further. They could have done this all on purpose.

Section 216 of the Insolvency Act 1986 restricts the use by a Phoenix company or successor business of a similar name or trading style to that of a company in insolvent liquidation.

I do also recall on Tron_ess comment on this too.

di3004

So really speaking is to not make any further contact with that company and just let the others carry on with it - if you know what I mean ?;)
Just to be on the safe side of it then really.;)

tiggrae

di3004 wrote: »

Thanks Tiggrae, yes you did mention about an insolvency solicitor a few weeks back, now how would I actually try to get one of these hun?
Can I find one on the i think its community advice website ? something like that ?

I did contact trading standards where the company are based but they said there was nothing they could do in this situation, and are they actually called insolvency solicitor?, that just specialises in this sort of issue ?

Sorry to be dim here now but just need to be sure that I will be seeking out for the right person, and I know you did explain this to me before.;)
Thanks.

I just did a search on my solicitors web site for insolvency (it's a small local firm) but this is what it came back with so I would imagine most towns have a solicitor who specialises in this field







Insolvency


Whilst insolvency may not be avoidable, it can be managed. Grasping the nettle at an early stage can result in a turnaround, or at least reduce the risks and costs involved. We can guide you through what is undoubtedly a confusing and some may even say, murky, world.

Our insolvency team has in-depth experience in handling all aspects of insolvency, whether they relate to businesses or individuals. xxxx xxxx has over 20 years experience and his leadership has enabled us to punch well above our weight in this field.

Our team can help with a range of issues, such as company restructuring, refinancing, administration, liquidation, directors’ duties, DTI investigations, company and individual voluntary arrangements and bankruptcy. We act for companies, banks, insolvency practitioners and individuals and offer pragmatic and conscientious expertise in non-contentious and contentious matters, with support from our property, employment, litigation and company commercial units.

di3004

tiggrae wrote: »

I just did a search on my solicitors web site for insolvency (it's a small local firm) but this is what it came back with so I would imagine most towns have a solicitor who specialises in this field






Insolvency


Whilst insolvency may not be avoidable, it can be managed. Grasping the nettle at an early stage can result in a turnaround, or at least reduce the risks and costs involved. We can guide you through what is undoubtedly a confusing and some may even say, murky, world.

Our insolvency team has in-depth experience in handling all aspects of insolvency, whether they relate to businesses or individuals. xxxx xxxx has over 20 years experience and his leadership has enabled us to punch well above our weight in this field.

Our team can help with a range of issues, such as company restructuring, refinancing, administration, liquidation, directors’ duties, DTI investigations, company and individual voluntary arrangements and bankruptcy. We act for companies, banks, insolvency practitioners and individuals and offer pragmatic and conscientious expertise in non-contentious and contentious matters, with support from our property, employment, litigation and company commercial units.

This is interesting thanks Tiggrae, and any idea on their charges for approx hour of their time if I decide to want to go further in this matter ? Cheers hun.;)

Just had a thought, my hubby is still a paying member of his union from when he worked in the steelworks, the steelworks went down under just days before last Christmas, it should cover everything, so do you think it may be worth my hubby contacting them to see if they can do anything about getting help in this field?
The union gave them a choice if they wanted to continue paying every month, he is with the Community union (of steel), it may be worth checking up on this what do you think ?
Thanks again.

marshallka

di3004 wrote: »

Thanks Tiggrae, yes you did mention about an insolvency solicitor a few weeks back, now how would I actually try to get one of these hun?
Can I find one on the i think its community advice website ? something like that ?

I did contact trading standards where the company are based but they said there was nothing they could do in this situation, and are they actually called insolvency solicitor?, that just specialises in this sort of issue ?

Sorry to be dim here now but just need to be sure that I will be seeking out for the right person, and I know you did explain this to me before.;)
Thanks.

Di, i thought that is why we had the FSA and OFT for these reasons... Maybe i am wrong here. If you worrying now about saying things then all you have done is wondered is it not. You have not actually accused anything here. You have never said that they are actually a phoenix company. This is where the OFT may be of help or perhaps trading standards as Troness suggested a while back.

tiggrae

marshallka wrote: »

Phoenix companies can also be like troness quoted and that section?? Its not just about companies rising from the ashes!

It can be reuse of company names and also similar names too. At first we were all confused on this lot until we investigated further. They could have done this all on purpose.

Section 216 of the Insolvency Act 1986 restricts the use by a Phoenix company or successor business of a similar name or trading style to that of a company in insolvent liquidation.

This is the LAW

http://66.102.9.104/search?q=cache:gO3SHLPDJr4J:www.freshfields.com/publications/pdfs/2007/may28/18775.pdf+phoenix+company&hl=en&ct=clnk&cd=6&gl=uk

if you read it carefully it says restricts the use by a phoenix or successor business (neither apply to financial as it's a prior business) to that of a company in insolvent liquidation - again not applicable as it was set up prior to liquidation

and strictly speaking they haven't 'reused' a name either as it was again set up prior to liquidation - you have to be soooooooo careful with the law and how it's worded