Dissolving A Business

Original Post:

A

AlxS

Free Member
Oct 28, 2022
2
1
  • #1
    Hi - I am looking at dissolving a LTD company - there is a BBL of £6397 - other than that there are no debts and no assets - whats the best way to do this - any advice is greatly appreciated - many thanks
     
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    ChrisCallaghan

    ChrisCallaghan

    Free Member
    • Business Listing
    Apr 10, 2018
    1,196
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    856
    Sheffield
  • #2
    Hi @AlxS ,

    A guide on how to dissolve in situations like your own can be found below:

    www.ukbusinessforums.co.uk

    CLOSING A LIMITED COMPANY WTH INSUFFICIENT FUNDS WITH WHICH TO PAY AN INSOLVENCY PRACTITIONER

    CLOSING AN INSOLVENT LIMITED COMPANY WITH INSUFFICIENT FUNDS WITH WHICH TO PAY AN INSOLVENCY PRACTITIONER If a company is unable to carry on trading due to becoming insolvent the standard procedure for closing it down is for the directors to appoint an Insolvency Practitioner to liquidate it...
    www.ukbusinessforums.co.uk www.ukbusinessforums.co.uk

    Be mindful that the BBL lender will likely object to any dissolution action, unless the BBL is repaid. At the moment I am seeing BBL lenders continue with objections for anywhere between 12 - 24 months before eventually letting a dissolution application go through.
     
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