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I just want to resurrect this post as there is fraud going on. See the latest article in the Times Newspaper https://www.thetimes.com/business-money/companies/article/insolvency-avoidance-scheme-still-running-despite-crackdown-b02z6f7lf
Hello. Sorry to hear of the company's issues.
Given that the company is most likely insolvent then yes you should consider creditors voluntary liquidation. Only licensed insolvency practitioners can liquidate a company so be wary of those offering to do it for free/buy the company etc...
Atherton Corporate run a website called nationalcompanyrescue.co.uk that basically says they will buy insolvent companies. We are companyrescue.co.uk and have written a bit about this here. Who are national company rescue?
how much would redundancy cost the company? It is possible, or certainly used to be, that you could contact the Redundancy Payments Office and get a loan/grant to pay redundancies if it could be shown that it would save some jobs in that it would stop the company becoming insolvent. In...
Without knowing the full story it is difficult really to advise. The key is really if you have any creditors? how much are they owed? Are you actually insolvent or not?
Sorry to hear this. If you have no money to liquidate then you will have to wait for the bank to wind up the company. I would suggest you use the spongebob plan ( you will find this referenced on this forum)...
No less than £3000. Any quote lower than that is not really likely to be accurate. There will be other costs added on. Read our CVL guide for more information
If they feel that the director made misrepresentations on the application form for the loan. We have seen a number of letters sent to directors setting this out. See this page below for an example...
You can only legitimately claim for directors redundancy if you had a contract of employment and had paid yourself via PAYE. In our experience, this is very rarely the case. This is being cracked down on as some agents have persuaded the directors to "find" that contract and it has magically...