Recent content by Jacob albert

  1. J

    Director redundancy

    Hi all. Still undecided wether to use an agent. Potentially 2.5k in fees seems a lot for a few emails and or letters. That said 85 percent is better than nothing. It seems tupe throws a spanner in the works. Not sure why as I understand it wether your contract is written or implied your...
  2. J

    Director redundancy

    Thanks Lisa. Once the form is submitted is that the end of it? Can it be challenged or resubmitted? With regards to the contracts or lack of is it not enough to prove that I've been paid through paye? How would the agent draft a contract, surley backdating or retrospective drafting of contracts...
  3. J

    Director redundancy

    Thanks for that gavin. One thing I'm worried about is proving I'm an employee. Is it enough to have been paid through the paye system? As we tupe transfered with all the rest of the staff and we didn't have a written contract before and still do not. It's an old company and we've all been there...
  4. J

    Director redundancy

    Hi there, has anyone any experience of director redundancy. I have been paid via paye all through my career including the last years as director. I have been told claiming redundancy shouldn't be a problem although aparantly they don't like paying it to directors. I have had a look and it all...
  5. J

    Insurance

    Hi anyone know if directors and officers insurance covers directors of companies that enter insolvency? The insurance is paid via finance monthly. Obviously if the company enters insolvency proceedings the monthly premium wont be paid.
  6. J

    Winding up

    Hi all. Mine and my partners company in the next few weeks will closed. We intend to go see our Ip and ask them to close us. We do have suppliers we owe money to and we've had County Court letters and also one statutory demand. At what point is it too late to appoint our own ip. If the company...
  7. J

    Winding up order

    Cheers for the reply guys. Gavin, it sets my mind at rest somewhat but once the process has started for a winding up is it then too late to go to our ip to close it down? Not sure about fees Jeremy for someone yo apply for us yo be wound up? I've no idea
  8. J

    Winding up order

    Hi there. We will be going to an ip in a couple of weeks to ask him to close the company. Its too close to mess around doing a cva to stop creditor pressure. Most amounts we owe are small less than 750 but there are a couple more than 3k. I'm worried these creditors could issue a winding up...
  9. J

    Bonus

    If a company is on the verge of insolvency and there is no prospect of it continuing due to lack of investment. Is it legal/proper to pay some staff contractual bonus payments which are due?
  10. J

    Business closure

    Hi there. Many thanks for the link. I know I'm entitled to redundancy just if I am forced to resign if my business partner does not want to do the right thing I won't. If I arrange for the company to make me redundant it would be paid over a number of months and I beleive its only a matter of a...
  11. J

    Business closure

    My Co owned business needs to close. On the verge of insolvency. No future, unable to gain investment. Staff morale gone completely. Question is my business partner reluctant to close and unable to give me anything. I know we should close but what do I do? Can't lose out on what redundancy I...
  12. J

    Supplier debt

    Well to be honest we were two members of staff eager to do a deal and nieve. The oldco paid for our solicitor which was the same as theirs
  13. J

    Supplier debt

    Hi Kelly, thanks for posting. We sell yo other business and the public. The cash flow issues are mainly due to giving credit but obviously now we are not buying much sales have fallen. The custom is there just not the cash to fund the purchase. On top of that the former owners have a veto on...
  14. J

    Supplier debt

    We did have a meeting with a local firm who seemed just keen on suggesting winding up, starting again and buying back the assets at a reduced cost and wiping the debt. All sounds great but not in a position to give pgs to get the money to buy the assets back. Plus I'm certain all the suppliers...
  15. J

    Supplier debt

    The business is viable long term if we can either a. Get through by negotiating with suppliers to pay the amounts over longer periods which I am doing with a decent amount of success. Most are understanding to a point and I don't think the relationships are gone they just might reduce or terms...
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