Recent content by Frank Wessely

  1. Frank Wessely

    Overdrawn Directors Loan - Liquidators Leave Door Open?

    @UK Contractor Accountant - Very interesting, thank you.
  2. Frank Wessely

    Provisional liquidators appointed to two connected corporate rescue companies

    Breaking News. Provisional liquidators have been appointed to Atherton Corporate (UK) Ltd and Atherton Corporate Rescue Limited The companies offered a service to "facilitate the sale of distressed companies" as an alternative to using insolvency practitioners The winding up petitions will...
  3. Frank Wessely

    Advice on next steps, business insolvency and imminent closure with significant PG's

    Hi @HD76 FC will consider any sensible deal that offers close to full repayment as a minimum but they are likely to require a Charge over your share of the home as security. Thanks.
  4. Frank Wessely

    Has anyone hear of this company and are they legit?

    You took the word out of my mouth.
  5. Frank Wessely

    Winding up petition served

    Hi @DLA001 I assume that this has been escalating over many months at least to end up as you describe. Why has it been allowed to reach this stage? Do you dispute the sum claimed by HMRC? What does the debt comprise? Please outline the type of business you are in. Can you summarise the...
  6. Frank Wessely

    Business rescue advice

    Hi @Kaymarie83 The company you mention is probably National Business Rescue. If it is I suggest that you take that no further because their offering typically creates more problems for Directors than those being faced beforehand. It would be necessary for you to provide much more detailed...
  7. Frank Wessely

    How to Shut Down a Limited Company When The Director/Owner Is The Only Creditor?

    I would agree that the SpongeBob plan should be your starting point in this instance. And come back to this thread if you have any queries afterwards. Thanks.
  8. Frank Wessely

    How is Sole Trader insolvency classed?

    Hi, it is technically a personal insolvency procedure. Either a bankruptcy or an individual voluntary arrangement (IVA). That will depend on the underlying circumstances and the degree to which the insolvent sole trader wishes to retain control over their financial affairs. For very low levels...
  9. Frank Wessely

    Compulsory Strike off query

    Hi, yes just ask. There is always a risk that a prospective tenant can be untruthful. If the previous properties were looked after by Managing agents then that would appear more credible and you can ask them for the backgrounds.
  10. Frank Wessely

    recovery of a foreign debt

    Hi @George2009 If it would help I can introduce you to a lawyer that I use for debt recovery in the UK and overseas. He works on a commission basis. For example, I recently used him to recover monies from a debtor based in Serbia. Thanks.
  11. Frank Wessely

    Compulsory Strike off query

    Hi @RuthR And also make sure that you take an appropriate security deposit against future defaults. And a personal guarantee. And you could ask to take references from other landlords these people have dealt with previously. Thanks.
  12. Frank Wessely

    Liquidation - Mounting Company Debts and Sleepless Nights.

    Hi, I will send you a DM.
  13. Frank Wessely

    Creating Retail Prepaid Loyalty Card

    Hi @Paul Kelly ICHYB Easy, no. I think the retailer may have to consider its position under the Payment Services Regulations 2017, notifying the FCA that it is relying on permitted exclusion(s) from the Payment Services Directive 2 or may also require authorisation from the FCA under the...
  14. Frank Wessely

    Liquidation - Mounting Company Debts and Sleepless Nights.

    Hi @parvy If the business manufactures furniture I am wondering why there are no machinery, stock or debtors? I would also expect there to be a property lease and goodwill. Presumably there are staff on the payroll too given that there are several vans. Some clarity would also be needed as...
  15. Frank Wessely

    Overdraft Guarantee

    I should also say that my above post assumed that there will be no dividend to creditors in the liquidation process. Thanks.
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