Recent content by JeremySilva

  1. J

    Protecting Spouse's interests in bankruptcy

    Credible witness evidence can influence the court and, consequently, it can also influence negotiations with the office holder. I'm happy to DM details of another solicitor if you want to compare his opinion with other advice you receive.
  2. J

    Protecting Spouse's interests in bankruptcy

    Thanks Lisa. I am checking my source on this.
  3. J

    Protecting Spouse's interests in bankruptcy

    Agree, this is definitely one for a specialist insolvency solicitor. Some points that may be relevant: Equity of exoneration only applies where a business owner debtor has raised funds secured against a joint property for the purpose of putting funds into his business. Not sure it therefore...
  4. J

    Possible to claim redundancy payment without liquidator?

    I can't post the link but if you google the following you'll find the government guidance on this: financial-assistance-for-employers-unable-to-pay-statutory-redundancy-payments "If an employer cannot afford to pay their employees redundancy pay, they can apply to the Redundancy Payments...
  5. J

    Who pay for the cost of Administration?

    In an insolvency the assets of the company effectively belong to the creditors. The Administrator is asking to be paid for work done on the company for the creditors so the creditors have to approve the fees. If the creditors don't approve them the Administrator can ask the court. If the court...
  6. J

    Who pay for the cost of Administration?

    As Gavin says, if the Administrator's fees aren't agreed by the creditors the Administrator can go to court to get approval. If the court agrees the fees then yes, the fees will be paid out of the liquidation. If not, they won't. Is the liquidator the same person as the administrator? If...
  7. J

    Spongebob Clarity

    Get advice before declaring bankruptcy. It's not the only option and may not be appropriate in your circumstances.
  8. J

    Spongebob Clarity

    A bankruptcy trustee would look to see if you've given away any assets (e.g. properties) over the last 5 years. If you did those asset transfers could be unwound.
  9. J

    Spongebob Clarity

    If Santander have a PG the dissolution of the company won't prevent them calling on it. If they do have a PG they'll pursue you into bankruptcy if they think it's worth their while. This may not be relevant: Of course banks have recently been handing out the Bounce Back loans which are...
  10. J

    Possible to claim redundancy payment without liquidator?

    So it appears that under 76.44 OP may be able to get a redundancy payment without a formal insolvency, and without having to go to a tribunal. However OP may not be able to recover any money for other things like unpaid wages or holiday pay. (Unfortunately I don't think the RPO's phone lines are...
  11. J

    Possible to claim redundancy payment without liquidator?

    Sorry about your events industry company FirstTimeMD. Yes, I see that in the case Scalloway references the company indeed doesn't appear to have gone through a liquidation. The director clearly did have to take the company to tribunal though and it does appear to have taken some 2/3 years to...
  12. J

    Company wound up by section 122 petition

    The liquidator will try to get the best deal possible for the business/assets and is likely to engage agents to handle most assets. The liquidator will first consider who the potential buyers are. The liquidator will incur cost in wider marketing of the business/assets if s/he thinks it...
  13. J

    Company wound up by section 122 petition

    The liquidator would look to sell the business and assets. It wouldn't necessarily be via an auction.
  14. J

    Company wound up by section 122 petition

    Are you asking how much you could expect to receive out of the winding up as a shareholder of the company?
  15. J

    BBL of 8K but business not viable

    Even if the IP's fee exceeds funds available in the company you are not personally responsible for paying it. The IP won't ask you for funds unless you have promised to pay him. Clearly you're not going to do that. As far as CVLs go yours sounds straight-forward and there is cash in the bank so...
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