Assets & Voluntary Liquidation

Im in the process of placing a limited company into voluntary liquidation. The firm handling this have advised that all assets are to be abandoned onsite as the cost to remove them is to great, however this means they are left for the landlord, which I dont want to do. In the directors report it refers to staff being a primary creditor and myself as another, can I remove these assets at my own cost and sell them, if I place the money back into the company? thanks in advance.

 

You could remove and sell anything of value prior to the liquidator being appointed, providing that it was sold at true market value. The funds realised should be passed to the liquidator upon appointment.

Once the company is in liquidation however, there is nothing you can do. You are no longer a director and have no standing.

 

I would ask the proposed Lqr if s/he will consent to you keeping the assets, given they have advised it is in order they can be abandoned.

Timing will be crucial as you may have to wait until they have been appointed Lqr, but as long as they agree I can't see an issue with you taking and preserving the assets in the meantime.

 

Possession is nine-tenths of the law.