Ltd company query

styeffo

Hi all.

Just a query really, my ex workmate who is as far as i know still a director in a company that ceased trading last September has had a letter from one of the business' creditors talking about court proceedings etc.

He rang me and informed me as i was until last August also a director, i was wondering as this was a company debt from a company that may exist on file but not in reality, and has NO assets at all.

So my query is seeing as this debt wasn't signed for in any sort of guarantee, what are the creditors options toward it?

the debt is around £900....

Any idea thanks?

itsnever2lateisit?

The creditor only has call on the assets of the Ltd Co, and its shareholders to the extent of the value of their investment (shares). However the directors might be liable if negligence could be proven. As for youself, if you resigned as a director and informed Companies House then you have no liabilty from the date of your resignation

styeffo

itsnever2lateisit? wrote: »

The creditor only has call on the assets of the Ltd Co, and its shareholders to the extent of the value of their investment (shares). However the directors might be liable if negligence could be proven. As for youself, if you resigned as a director and informed Companies House then you have no liabilty from the date of your resignation

i sent a form of removal to companies house, and what would be constituted as negligence?

I am trying to figure out what my ex colleague can do really.

vivatifosi

If you check the Companies House website, you should be able to get a copy of the Director's report or annual return for £1 (for each item). That should tell you resignation dates and give you a bit more info to go from. Go to https://www.companies-house.gov.uk and click on Webcheck. You should also be able to see the insolvency history (free of charge) and whether the dates overlap.