The way forward

Discussion in 'Insolvency' started by Craiggold1, Mar 17, 2020.

  1. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    Hello all, my first post as really both scared and not knowing where to go next.
    5 years ago this June our company was placed into compulsory liquidation.
    We fortunately owned our building and were able to pay off the tax and bank interests in the company, but not our suppliers, even though we had begun to all be it slowly. At our interview with the OR she found nothing to pursue us about.
    We then heard from a liquidation company of solicitors that were now dealing with the case.
    We have acknowledged all their information and correspondence, even though they have not answered any of our questions.
    5 years on we have just had County Court forms and I really don’t know where to go with it. We will seek legal advice, but I just wanted anyone’s take on it for good or ill.
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #1
  2. MBE2017

    MBE2017 UKBF Ace Free Member

    1,730 591
    Put in a defence against the claim, if they take you to court they will need to provide the proof, so ask yourself why they have not given it too you already?
     
    Posted: Mar 17, 2020 By: MBE2017 Member since: Feb 16, 2017
    #2
  3. Mr D

    Mr D UKBF Legend Free Member

    22,126 2,604
    The liquidation is still ongoing?
     
    Posted: Mar 17, 2020 By: Mr D Member since: Feb 12, 2017
    #3
  4. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    I guess so, we’ve disputed everything they’ve claimed and asked questions back, but they don’t answer, relying on what feels like bullying, but I appreciate is a cold reality
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #4
  5. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    Yes, they cannot provide any of the information we ask for, or directly answer questions, yet still they persist. I have no knowledge of how long these things take so we’ve assumed we have been acting legally by cooperating
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #5
  6. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,488 436
    Do you mean the Liquidators are pursuing the Directors personally for misconduct claims via their Solicitors?

    If so, how much are the claims against you?

    Have you taken legal advice from an insolvency Solicitor?
     
    Posted: Mar 17, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #6
  7. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    Hi Lisa, they are claiming that we owe £95k in directors loan accounts, again, this was being repaid as an ongoing part of the business, I might add all under the direction of our accountant, when we got hit with a winding up order. We have not spoken to anyone, assuming that the people dealing with this would not become as intimidating as they have
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #7
  8. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    11,478 2,366
    Are you saying that you made the Bank and HMRC paid up making them preference to the other suppliers which is against the law

    What does your IP say about it?
     
    Posted: Mar 17, 2020 By: Chris Ashdown Member since: Dec 7, 2003
    #8
  9. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,488 436
    What is your ability to repay the alleged claim?

    What assets/ other liabilities (if any) do you have?

    How many directors have the claim been made against?
     
    Posted: Mar 17, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #9
  10. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    Hi Chris, no, its obviously a little more involved than that, Im not sure that I can give all the answers, so I'll not pretend I can. We would certainly never, activaly break the law
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #10
  11. Craiggold1

    Craiggold1 UKBF Newcomer Free Member

    6 0
    Well that we dont know until we know what it all amounts to, they are rather cagey about exactly what its all for. I have my house as do the other 3 ex directors
     
    Posted: Mar 17, 2020 By: Craiggold1 Member since: Mar 17, 2020
    #11
  12. Lisa Thomas

    Lisa Thomas UKBF Enthusiast Free Member

    3,488 436
    That doesn't sound right to me.

    If you have been written to by a Solicitor acting for the Liquidator they will need to have laid out the potential claim and sums against you, unless they are still just making enquiries at this stage.

    The 4 of you should see an insolvency Solicitor as they may well begin recovery proceedings against you.

    I can recommend one if you DM me.

    Feel free to email me a copy of the correspondence to look at.
     
    Posted: Mar 18, 2020 By: Lisa Thomas Member since: Apr 20, 2015
    #12