Debt with Ltd company

It may be that Company Secretary is now a "shadow director" - which, if the company trades while insolvent, might render him personally liable?

In article , Fred writes

In your position I would visit the companies house website and obtain a copy of their last filed accounts to see if there is likely to be enough money in the company to pay you. Search from:

then click 'order' to display which documents are available. Last accounts plus last return cost only a fiver so not much of a loss there. Bear in mind that they may be up to a year out of date.

As you mention money claims on-line I am assuming that the amount is under 5000 pounds and that you are intending to use the small claims track. Whilst it can take a long time to get a judgement (8months in my case) it can be very satisfying when it all comes together and I would heartily recommend it at a way of obtaining closure on a bad experience.

My amount was C 2500 pounds, obtained in full. Time wasting by the defendant and ignoring correspondence had no effect as the court would have none of it.

As for quick and dirty, I have no suggestions.

Threaten a winding-up petition unless they pay in 7 days.

Its a limited co, so a stat demand is not required.

Andrew McGee

The trouble he has moved abroad and whilst as you say he may be personally liable doubt the sort of sums involved would warrant chasing him around Europe.

1. Don't delay. The older a debt is, the less likely you are to get paid.
2. NEVER make a threat that you aren't prepared to carry out. It destroys all your credibility. To issue a winding up Petition is very expensive, complicated and usually does not result in getting paid.

A third rule is check carefully before giving credit. I suspect that this debt is dead money now but if you want to pursue it, then start by searching at Companies House, and also at the Registry Trust to see if the Company has any judgements against it.

See

Good luck

JJ

Some useful advice for the future can be obtained here

Just been looking up about winding up orders. Is this something I can do myself or would I require a solicitor to do this?

What sort of cost is involved here and the pitfalls in this method?

In article , Fred writes

Chase the company, not the director, that is where the debt lies. It has a registered address in this country, use that and don't worry about where the director has moved to. Even if he is no longer with the company, the debt is with the company.

Many thanks. It's the comp sec who has moved and the sole director is an old acquaintance of mine. I agree with you and anything served will be served at the registered address which is in this country and is the employees' address. The comp sec is still with the company and has a hold on the purse strings. The director doesn't appear to have the inclination in getting involved or is frightened of the comp sec despite being the one ultimately responsible!

Stable door and bolt come to mind!

The employee and director were acquaintances of mine who I would normally have trusted.

Credit is an interesting subject but without it it's very difficult to sell without giving credit.

The company is a new one without any records at company house yet.

I thought the Registry Trust only recorded judgements which were not satisfied within the requisite 14 days or so?

What's the typical cost of a winding up petition? It sounds a relatively simple procedure.

This sounds like a similar situation to myself and I was wondering if anybody else can offer me any advice regarding race. A client of mine currently those made 2,000. I have issued a statuatry demand (form 6.1) to the client with a bit of help from the debt recovery agent. The way the person I explained it to me is that he has 21 days in which he must pay the full amount otherwise we can take out insolvency proceedings Is this true or can he contest this without having to go through the courts?

mat

I must admit that half of the above is gibberish. What do the first two sentences mean?

Everyone says how easy it is but once when I went to a solicitor about taking one out I was told that it would get rejected unless the debt had been proved through a court case. Nowhere have I seen this mentioned before and maybe the solicitor was talking rubbish.

There is no need to have a CCJ before issuing a Statutory Demand, but one runs the risk of the "alleged" debtor having it set aside, especially if there is a dispute over the debt itself.

especially if

If there is a bona fide dispute, the statutory demand will not by itself lead to insolvency