Not insolvent yet!

[Pauls business]

Hi
Need advice
Ltd company running since 2018

Hit hard times, lost a few contracts

Income was 10k per month last year now barely 200/300 per month

Bbl 18k
2 company cars
5k overdraft

I have contacted bank to help with bbl - last pay as you grow and overdraft - 30 day hold.

We probably can carry on for 3-6 months hoping for pick up.

I saw the adverts for ANSON goldsmith - good reviews on trustpilot who buy your debt. They quite 2k fees.

If they do that the bbl and overdraft goes with the company and I am failing to see any legal repercussions.

Unsure what happens to the company cars. One lease is director guaranteed but the other isn’t.

If I sell I will not be gaining any assets or continuing the company name.

 

[Newchodge]

Hi
Need advice
Ltd company running since 2018

Hit hard times, lost a few contracts

Income was 10k per month last year now barely 200/300 per month

Bbl 18k
2 company cars
5k overdraft

I have contacted bank to help with bbl - last pay as you grow and overdraft - 30 day hold.

We probably can carry on for 3-6 months hoping for pick up.

I saw the adverts for ANSON goldsmith - good reviews on trustpilot who buy your debt. They quite 2k fees.

If they do that the bbl and overdraft goes with the company and I am failing to see any legal repercussions.

Unsure what happens to the company cars. One lease is director guaranteed but the other isn’t.

If I sell I will not be gaining any assets or continuing the company name.

If it sounds too god to be true it IS too good to be true. What, exacty, do they do for £2k?

 

[Mark T Jones]

Oh dear, another Atherton clone.

Hopefully the IS will jump on them soon.

I'd suggest handing the cars back (you may need to suck up the PG loss) and go for strike off - one of the IPs will be along soon to advise.

 

[JEREMY HAWKE]

I would speak to one of the IPs on here as we know they are reputable
It may not be wise trying to save money on shutting this firm

 

[Perbinder]

PG loss?

 

[Perbinder]

IPs also charge 2-3k

 

[Perbinder]

If it sounds too god to be true it IS too good to be true. What, exacty, do they do for £2k?

Buy the company with the debts
They wont take the cars as they are an "asset"

 

[Perbinder]

IS?

 

[ChrisCallaghan]

Hi @Pauls business ,

Firstly I'm sorry to hear about the difficulties you're facing.

Buy the company with the debts
They wont take the cars as they are an "asset"

Oh dear, another Atherton clone.

Hopefully the IS will jump on them soon.

Whilst I have not heard of Anson Goldsmith before now, I'd echo @Mark T Jones 's comment, in that it sounds like (in my opinion only) that they are engaged in activities similar to a company called Atherton, that was recently shutdown in the public interest for undermining the UK's insolvency regime. For context, see the two below links:

Companies promoting ‘corporate rescue’ scheme shut down after undermining insolvency regime

Seven companies have been wound-up following Insolvency Service investigations.

www.gov.uk

No longer available - GOV.UK

www.gov.uk

 

[Mark T Jones]

If it sounds too god to be true it IS too good to be true. What, exacty, do they do for £2k?

I can reliably answer that.

Precisely F**k all. They will ignore everything in the hope that the company will be struck off. But they don't really care either way.

You don't need this scammy exit - one of the Ips can guide you how to do this without paying to do it.

 

[ChrisCallaghan]

@Pauls business

Following from my previous post:

I'm glad to hear that your company is "not insolvent yet" and I hope that remains the case, however as a director it is always sensible to explore insolvency options and how they work if you have concerns.

I (as well as the other insolvency regulars here on UKBF) would be happy to offer you a cost free and confidential consultation to go through all the options available. Please fee free to DM me or contact me using the details in my post's signature.

 

[ChrisCallaghan]

I can reliably answer that.

Precisely F**k all. They will ignore everything in the hope that the company will be struck off. But they don't really care either way.

You don't need this scammy exit - one of the Ips can guide you how to do this without paying to do it.

Their reg'd address at Companies House (see https://find-and-update.company-information.service.gov.uk/company/13710706) is 83 Ducie Street in Manchester, which is always worth a laugh if you want to check Google Street View.

 

[Mark T Jones]

Their reg'd address at Companies House (see https://find-and-update.company-information.service.gov.uk/company/13710706) is 83 Ducie Street in Manchester, which is always worth a laugh if you want to check Google Street View.

All looks legit to me.

 

[UK Contractor Accountant]

I saw the adverts for ANSON goldsmith - good reviews on trustpilot who buy your debt. They quite 2k fees.

Another one risen from the dead cant make up their mind if they are phoenix or clear company rescue

PHOENIX COMPANY RESCUE
ADDRESS
83 Ducie Street
Manchester
M1 2JQ
Fees for brokering the sale of a company have a simple structure, based on the amount of debt a company is liable for. Contact us to find out more.


Clear Company Rescue is a trading style of Anson Goldsmith Ltd.
Company Registration Number: 13710706

 

[UK Contractor Accountant]

Chris Davis
1 review


GB

---

1 Jun 2024

These guys used to be Clear Company…​

These guys used to be Clear Company Rescue - left everyone who sold the company high and dry. Deleted their website and could never be contacted again.

Used a random company (Davis Acquisitions Ltd) to buy the companies and then completely abandoned it. Make sure you ask for ID of the purchaser and some contact details of the buyer.
Date of experience: 04 April 2024

 

[Lisa Thomas]

Hi

Sorry to hear you are having difficulties. As this others have pointed out, google Atherton to read about the downside to what you are proposing.

Always best to seek advice form a licensed insolvency practitioner rather than a rogue firm.

I'd be happy to chat to you - feel free to dm me. My initial meeting is free, confidential and no obligational, and if insolvency is not a viable/affordable route I will explain the alternative options to you.

 

[Lisa Thomas]

Sorry, I realise @Chris Callaghan has offered the same - speak to Chris first, but happy to help if you want a second opinion.

 

[Pauls business]

Thank you for your posts but it seems no one wants to read mine.

As yet I am still unclear what the legal repercussions are for me selling the business.

You have told me lots about how much you hate them and they have been put out of business.

 

[Pauls business]

So is this just an advertising forum for IPs or will someone actually give me some advice about what I asked?

 

[Pauls business]

I can reliably answer that.

Precisely F**k all. They will ignore everything in the hope that the company will be struck off. But they don't really care either way.

You don't need this scammy exit - one of the Ips can guide you how to do this without paying to do it.

So you are suggesting an IP will do it all for free?

 

[Newchodge]

So you are suggesting an IP will do it all for free?

No, but a reputable IP will take your money and sort out your issue,as opposed to just taking your money.

 

[Newchodge]

So is this just an advertising forum for IPs or will someone actually give me some advice about what I asked?

You didn't actually ask anything.

 

[Pauls business]

You didn't actually ask anything.

Ok Miss Grammar police

What are the legal repercussions?

I fail to see any so far and no one here seems to have shown any.

Gosh this really is an unfriendly forum especially if you dare question

 

[ChrisCallaghan]

So you are suggesting an IP will do it all for free?

No, but both myself and @Lisa Thomas have offered you our time for free to provide no obligation and confidential advice to explore ALL options. Some of those options will involve a fee, but that doesn't mean those are the options you have to choose.

As yet I am still unclear what the legal repercussions are for me selling the business

I have, very recently, been advising a director left with the mess that such schemes cause - skip towards the bottom of this thread, looking for the posts of MrSoap

Has anyone hear of this company and are they legit?

Hi. Has anyone ever heard of had dealings with this company? National company rescue / atherton corporate They basically buy the shares in a business taking on all liabilities etc allowing you to walk away. If i went through a route like this would there be any risks to myself? Im guessing to...

www.ukbusinessforums.co.uk

I hope they don't mind me sharing that they regret being involved in such a scheme, and I am currently referring to them to a solocitor who can be on standby to represent them if/when the company is wound up and the Insolvency Service have questions about their decision making process.

As a director you are free to make any decisions that you feel are correct, but please be mindful that if your company is insolvent, then your decision making can be questioned. There is a reason why such advice and solutions are expected to come from licensed insolvency practitioners - being licensed makes us accountable.

 

[Pauls business]

No, but a reputable IP will take your money and sort out your issue,as opposed to just taking your money.

Please can you elucidate that as a simple statement like that provides no information

 

[Pauls business]

So far lots of adverts and people giving opinions with no facts

 

[ChrisCallaghan]

So far lots of adverts and people giving opinions with no facts

Whilst I do not wish to get into a back and forth, as that is not helpful to you, do the posts I've shared explaining how companies that provide such schemes being shut down in the public interest not constitute as facts?

 

[Pauls business]

No, but both myself and @Lisa Thomas have offered you our time for free to provide no obligation and confidential advice to explore ALL options. Some of those options will involve a fee, but that doesn't mean those are the options you have to choose.



I have, very recently, been advising a director left with the mess that such schemes cause - skip towards the bottom of this thread, looking for the posts of MrSoap


I hope they don't mind me sharing that they regret being involved in such a scheme, and I am currently referring to them to a solocitor who can be on standby to represent them if/when the company is wound up and the Insolvency Service have questions about their decision making process.

As a director you are free to make any decisions that you feel are correct, but please be mindful that if your company is insolvent, then your decision making can be questioned. There is a reason why such advice and solutions are expected to come from licensed insolvency practitioners - being licensed makes us accountable.

Ok thank you for this.

I am unsure how Mr Soap is liable for the creditors demands if he has sold the business.

If the business is sold while solvent I am unsure why the IS would be pursuing Mr Soap.

 

[Pauls business]

Whilst I do not wish to get into a back and forth, as that is not helpful to you, do the posts I've shared explaining how companies that provide such schemes being shut down in the public interest not constitute as facts?

Not really. They show issues for the directors of Atherton or which ever company they are dealing with. Your second post is more interesting to me but as yet there still is no evidence that IS has done anything to the selling directors despite atherton being around for a long time- based on the reports in this forum alone

 

[ChrisCallaghan]

I am unsure how Mr Soap is liable for the creditors demands if he has sold the busbusiness

MrSoap was never liable for the creditors demands - his Ltd company was. Because his Ltd was not closed correctly, creditors are still attempting to enforce at an address where the creditors believe company assets to be.

 

[Pauls business]

If the business is sold while solvent I am unsure why the IS would be pursuing Mr Soap.

 

[ChrisCallaghan]

Not really. They show issues for the directors of Atherton or which ever company they are dealing with. Your second post is more interesting to me but as yet there still is no evidence that IS has done anything to the selling directors despite atherton being around for a long time- based on the reports in this forum alone

Then all I can do is wish you luck, ultimately it is your judgement based on the information that has been presented to you.

If you would like some indication that this forum is not...

lots of adverts and people giving opinions with no facts

then I recommend looking at the following guide as an alternative to consider:

CLOSING A LIMITED COMPANY WTH INSUFFICIENT FUNDS WITH WHICH TO PAY AN INSOLVENCY PRACTITIONER

CLOSING AN INSOLVENT LIMITED COMPANY WITH INSUFFICIENT FUNDS WITH WHICH TO PAY AN INSOLVENCY PRACTITIONER If a company is unable to carry on trading due to becoming insolvent the standard procedure for closing it down is for the directors to appoint an Insolvency Practitioner to liquidate it...

www.ukbusinessforums.co.uk

 

[Pauls business]

If the business is sold while solvent I am unsure why the IS would be pursuing Mr Soap.

Still not answered

 

[Pauls business]

Then all I can do is wish you luck, ultimately it is your judgement based on the information that has been presented to you.

If you would like some indication that this forum is not...



then I recommend looking at the following guide as an alternative to consider:

That is an interesting thread

 

[Newchodge]

Ok Miss Grammar police

What are the legal repercussions?

I fail to see any so far and no one here seems to have shown any.

Gosh this really is an unfriendly forum especially if you dare question

The legal repercussions could be anything from none to toal liability for all the ld company debts. Without a great deal more detail, it is impossible to say.

 

[Pauls business]

The legal repercussions could be anything from none to toal liability for all the ld company debts. Without a great deal more detail, it is impossible to say.

And what evidence do you have for this assertion. Again another 1 sentence opinion.

 

[ChrisCallaghan]

Still not answered

I have, if you take the time to re-read my comments Paul.

IS are not currently taking action against him, and I haven't suggested they are.

MrSoap's present predicament is that creditors don't believe the transfer to a new owner is legitimate, and so are still sending bailiffs to the company's previous trading address. This is causing unwanted disruption to the current, new business.

Where the IS will become involved is when the company is eventually wound up, and IS wish to examine the decision making process of current and past directors.

I will now bow out of this conversation. @Pauls business
I assume you've come here for advice and the benefit of others' experiences - this has been shared with you. Do with that information as you see fit.

 

[ChrisCallaghan]

And what evidence do you have for this assertion. Again another 1 sentence opinion.

If you would like specifics, Transaction at Undervalue under section 238 (and I think 423) of the Insolvency Act 86 for a start.

 

[Elliot Green]

Thank you for your posts but it seems no one wants to read mine.

As yet I am still unclear what the legal repercussions are for me selling the business.

You have told me lots about how much you hate them and they have been put out of business.

In general terms, a shareholder (subject to a company's Articles of Association / Shareholder Agreement(s)) is usually free to sell their shares in a company.

Are debts being purchased or are shares being purchased?

In general terms you cannot easily sell a debt you owe; you far more easily can sell a debt you own. In order to sell a debt you owe, you need the consent of the party that owns the debt ie. the creditors. Generally, a creditor such as a BBL creditor (and creditors more generally) will usually be reluctant to agree to this arrangement.

Generally selling a company may result in the disposal of a shareholding but it does not appear to dispose of anything else necessarily.

There will be instances when companies sold (ie. the shares) in the twilight zone at the point just before or at the cessation of trading, may still go into insolvent voluntary liquidation and at that point, the conduct of any individual who has been a director in the last 3 years prior to liquidation will be subject to the usual reporting by the liquidator to the Insolvency Service.

 

[Lisa Thomas]

So is this just an advertising forum for IPs or will someone actually give me some advice about what I asked?

Chris and I both offered to speak to you to give you free advice!