We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Legal advice please
AngelaUK
Posts: 73 Forumite
Firstly apologies if this is the wrong forum but I didn't know where to start asking for advice on this issue.
I invested some money in a company that has subsequently got into trouble. The investment was an interest free loan to them, in return for a percentage of the company profits and the loan due to be paid back 3 years later. The former director of the company has been made personally bankrupt and there is a great deal of uncertainty surrounding the company now. Does anyone know where I stand with getting the initial loan amount back?
I have tried to make contact with him but with no success, only found out about the bankruptcy through a forum connected with the company.
I invested some money in a company that has subsequently got into trouble. The investment was an interest free loan to them, in return for a percentage of the company profits and the loan due to be paid back 3 years later. The former director of the company has been made personally bankrupt and there is a great deal of uncertainty surrounding the company now. Does anyone know where I stand with getting the initial loan amount back?
I have tried to make contact with him but with no success, only found out about the bankruptcy through a forum connected with the company.
Quidco: Paid £2,244.90 
TCB: Paid £342.82
TCB: Paid £342.82
0
Comments
-
If you lent it to the company and they are bankrupt then you are considered a creditor, and will only see a small part of it back, after the receiver has done their work.
I wouldn't rely on it. Sorry0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards