Recent content by Honung

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    Company In Liquidation with Overdrawn DL

    Thank you everyone for your feedback. I appreciate everyone of you for taking time out of your day to reply. I hope that others read this thread and do not make the same mistakes I made.
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    Company In Liquidation with Overdrawn DL

    The liquidator was informed at the beginning. I was pretty much suicidal to be honest, I saw no way out and had let my family down. He did reassure me and talk me through everything. I have come to terms with going personally bankrupt, I have personal debts which crucify me every month but I...
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    Company In Liquidation with Overdrawn DL

    I am afraid the accountants I had used are the former. I had no idea :(
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    Company In Liquidation with Overdrawn DL

    It's not quite as simple as that, the DL was over a period of 10+ years. The business had a high turnover every month, when things were on a high it was in excess of a £100k a month, suppliers accounted for about 40k, although we had been in special measures with them for 12 months, working...
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    Company In Liquidation with Overdrawn DL

    The business has been running for a long time, with 4 separate accountants. All chartered, all proper firms. At no point did any of them sit down and explain the consequences. I was upset when I found out, you pay a lot of money to specialists and expect them to explain things. I suspect...
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    Company In Liquidation with Overdrawn DL

    I understand that, but that isn't in the best use of any funds available This is more what I am wondering, thank you for taking the time to reply
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    Company In Liquidation with Overdrawn DL

    This will sound stupid, but had no idea what it was. I have always been on the ball with things but accounts were always handled by accountants and I didn't understand the implications. Lesson learned. I am more wondering if they will take the bankruptcy route as it will not result in any...
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    Company In Liquidation with Overdrawn DL

    [England] My company of 16 years went into liquidation earlier in the year (Aug). The DL account is sitting at around £105,000, debts for the company were around £90,000 The company had a 15k bounce back loan, but that was in full in the account. A small amount of stock and cash was left in...
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