In: CVL
When will the liquidation finish?
June 30, 2020Once all assets have been realised and after costs, subject to their being any funds available, a dividend is paid to…
Read MoreCan I as a director claim redundancy and if so how?
June 30, 2020If you were paid via the Company’s PAYE scheme and have a contract of employment, you will be able to apply…
Read MoreCan I be held personally liable for any of the Company’s debt?
June 30, 2020There are certain, unusual circumstances where this is possible, such as wrongful trading, preference, misfeasance and illegal dividends. If you are…
Read MoreWill HM Revenue and Customs (“HMRC”) pursue me personally for outstanding tax?
June 30, 2020Unless there are exceptional circumstances, the debts due to HMRC, by the Company, will remain within the Company and they will…
Read MoreI have provided a Personal Guarantee to a creditor. What happens with that?
June 30, 2020If a personal guarantee has been provided to a creditor then they will expect you to pay the outstanding sums should…
Read MoreWhat if I have an overdrawn directors loan account?
June 30, 2020If you have an overdrawn directors loan account, meaning that you owe the Company money, then this is classed as an…
Read MoreWill I be disqualified as a director if I liquidate my Company?
June 30, 2020A liquidator is under a duty to investigate the conduct of the directors spanning back three years prior to the liquidation…
Read MoreCan directors use the same or similar Company name afterwards?
June 30, 2020This is a possibility but not advisable as there are restrictions under Section 216 of the Insolvency Act 1986 which prohibits…
Read MoreCan directors buy back company assets after liquidation?
June 30, 2020Yes they can. This will be negotiated through the agent appointed by the liquidator. Details of any sales to connected parties…
Read MoreWhat happens to the Company’s assets?
June 30, 2020Once the Company is in liquidation, it is the duty of the liquidator to achieve the best possible realisable value of…
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