Company Debt and Dissolution

[murphyb00701]

Hi All, I work in a company that owed a substantial amount of money and had been paying then stopped. The debt is from 2022, but the company has dissolved since 2017. So my question is, were we dealing with the individual rather than the Ltd company since then and does the debt belong to the individual since the company dissolved? Any help would be appreciated.

 

[japancool]

Sorry, who owed whom?

A customer company owe you money, or you owed them money?

 

[murphyb00701]

Sorry a customer company owed me money,

 

[Elliot Green]

If you have entered into new contractual arrangements since the customer company dissolved is it not clear from the paperwork who the customer is?

 

[nelioneil]

Quite confused here . Why was the customer paying for 5 years after being dissolved?

 

[murphyb00701]

The account was opened with us in 2015 and it the account was set up as Ltd company with us and they had been paying their account weekly. They closed up in 2022, and had been paying money off the bill since then, they haven't paid in a few months now. When I checked companies house it is showing dissolved in 2017, mid way trading with us. They never called to inform us of the dissolution, but continued to trade as normal with us.

There is an outstanding debt dated 2022 and I was wondering if we could go the legal route as an individual or do we have any grounds to pursue the debt.

Hope this makes sense.

 

[Lisa Thomas]

How much are you owed?

Sounds like for whatever reason you got lucky for a while as a different entity decided to continue paying your debt. Whether that signifies acceptance of the debt, and your ability to legally pursue the new entity will be up to a solicitor to advise on.

If you want to pursue the original debtor, you would need to pay to reinstate the company (and possibly pay to liquidate it). But if the company was dissolved when it owed you a debt, suggests it was insolvent and for whatever reason the directors choose not to enter into a formal insolvency procedure, like liquidation.

So it suggests the company doesn't have the means to pay you any debt. Highly likely to be wasting your time and money, especially as costs and preferential and secured creditors will rank ahead of your debt, assuming you are an unsecured creditor.