Recovering company documents

[applestrawberry]

Good afternoon all, I am a director of a limited company, there are four of us in all, we only completed the purchase of the company in June, hence Im asking advice.

My question is, the previous finance director has not handed over all of the financial paperwork from the past few years trading. We have had some of the paperwork and records (enough for our original investigations) but there are some that have remained outstanding. I have telephoned her several times but got nowhere, and dropped a note through her letterbox.

I am worried that I wont have all of the information that may be requested from me at a later date, as our accountant has suggested that we should keep some of these records from the list for several years.

Anyone know the best way forward with this? As I say I have tried to contact her but that doesnt seem to be getting us anywhere. Thought there may be a legal route but havent started looking at that option yet.

Any advice would be useful.

 

[Lime One]

When you bought the business was it just her name on the sale document and was it a condition of the sale that historic documents were provided ie in the contract? I ask as it will affect my answer to you as to legal redress avenues.

 

[applestrawberry]

Just her name on the document.

In the early stages, information for past 3 years was made available, and everything was great.
There is no mention of the historic documents on the contract, wasnt a condition of sale, but we naively thought that it would all just be handed over to us.
We have no reason to question everything is in order, just feel that we should be keeping/storing these records.

 

[Lime One]

The contract of sale of the company should have been from the limited company and her as presumably the sole shareholder. This would mean the docs are the property of the company. I can look at the contract for you free of charge to see if there are any legal avenues but in the meantime I think a continued and friendly effort, including offering to assist in getting duplicates if possible, to the outgoing owner.

I would also ask the accountant as to the importance of the documents, if they are crucial then there may also be legal redress against whoever assisted you in handling the sale. The ability to produce trading records in a limited company for at least 6 years is important and should have been in the contract.

 

[applestrawberry]

Thankyou for your help LimeOne.

I think I will make a last attempt at the friendly approach, and see how things go.

I thought I was right in thinking that generally these records belong to the company so that looks promising.

May well take you up on your kind offer if I dont get anywhere with her.