To Cancel Strike Off application?

[Martin GR]

Hi,
Could we pick your brains please,
A limited company was forced to cease trading as unviable. The company had some debts including a BBL. A strike off application (DS01) was submitted in 2021 to the Companies House, but creditors objected including BBL related. The BBL is now the only objection remaining and continued for another few months. Assuming the BBL related object to striking off is bound to continue forever, would it be better to withdraw the Striking Off Application Form (DS01)? Thanks in advance.

 

[Newchodge]

Hi,
Could we pick your brains please,
A limited company was forced to cease trading as unviable. The company had some debts including a BBL. A strike off application (DS01) was submitted in 2021 to the Companies House, but creditors objected including BBL related. The BBL is now the only objection remaining and continued for another few months. Assuming the BBL related object to striking off is bound to continue forever, would it be better to withdraw the Striking Off Application Form (DS01)? Thanks in advance.

What do you want to achieve? Do you want the company to be struck off?

 

[ChrisCallaghan]

No I wouldn't withdraw, unless the company in question intends to resume trading and paying it's liabilities. Eventual the BBL related objections will stop and the company will be dissolved, but it is incredibly difficult to say when. Currently I know of some directors waiting two years plus for it to go through (see similar threads at this forum).

If the company is insolvent and the directors wish to see it closed, it is now a case of sticking with the strike off process till objections cease or a creditor comes forward with a winding up petition (aka Compulsory Liquidation) OR instructing an insolvency practice to start a Voluntary Liquidation process.

Is this your own company @Martin GR ?

 

[Martin GR]

What do you want to achieve? Do you want the company to be struck off?

Yes to strike off, as it has ceased trading.

 

[Martin GR]

No I wouldn't withdraw, unless the company in question intends to resume trading and paying it's liabilities. Eventual the BBL related objections will stop and the company will be dissolved, but it is incredibly difficult to say when. Currently I know of some directors waiting two years plus for it to go through (see similar threads at this forum).

If the company is insolvent and the directors wish to see it closed, it is now a case of sticking with the strike off process till objections cease or a creditor comes forward with a winding up petition (aka Compulsory Liquidation) OR instructing an insolvency practice to start a Voluntary Liquidation process.

Is this your own company @Martin GR ?

The company was owned by another person.

 

[ChrisCallaghan]

The company was owned by another person.

Has this person considered and explored a voluntary liquidation?

 

[Martin GR]

Has this person considered and explored a voluntary liquidation

I think liquidation was considered, but costs not affordable at all.

 

[ChrisCallaghan]

I think liquidation was considered, but costs not affordable at all.

Understood. Then as mentioned, all that can be done now is to sit back and wait. Other than going through a voluntary liquidation, there isn't much more they can do.

 

[Martin GR]

Understood. Then as mentioned, all that can be done now is to sit back and wait. Other than going through a voluntary liquidation, there isn't much more they can do.

Thanks very much Chris