- Original Poster
- #1
Hi
Friend is in the process of closing their limited company along with their Bounce Back Loan.
They ceased trading in June and the accountant filed the DS01 straight away to apply for the strike off. Only debt is a BBL which they never missed a payment until after they ceased as the company had no funds left.
No legal issues with the BBL, they used it for what was intended it kept the business running through Covid, no spurious purchases or preferential treatment it covered the bills and wages.
Obviously they have spoken with the bank (Lloyds) to let them know the company ceased trading with no assets etc after several generic ‘let us help’ letters.
They were told that the bank will send the balance of the loan to collections but given there are no assets and no money to self liquidate they will likely close the loan account and the bank accounts and get repaid from the government guarantee.
The bank account name has changed to RCB-L Fees Exempt… Google is as clear as mud and my friend is asking what that means? Any ideas? Is this a sign they are closing the account?
Lloyds confirmed they were the ones who opposed the strike off application fyi, but that as soon as they closed the accounts they would let the strike off application go through.
TIA
Friend is in the process of closing their limited company along with their Bounce Back Loan.
They ceased trading in June and the accountant filed the DS01 straight away to apply for the strike off. Only debt is a BBL which they never missed a payment until after they ceased as the company had no funds left.
No legal issues with the BBL, they used it for what was intended it kept the business running through Covid, no spurious purchases or preferential treatment it covered the bills and wages.
Obviously they have spoken with the bank (Lloyds) to let them know the company ceased trading with no assets etc after several generic ‘let us help’ letters.
They were told that the bank will send the balance of the loan to collections but given there are no assets and no money to self liquidate they will likely close the loan account and the bank accounts and get repaid from the government guarantee.
The bank account name has changed to RCB-L Fees Exempt… Google is as clear as mud and my friend is asking what that means? Any ideas? Is this a sign they are closing the account?
Lloyds confirmed they were the ones who opposed the strike off application fyi, but that as soon as they closed the accounts they would let the strike off application go through.
TIA
