View Full Version : Liability with Limited Companies

09-05-2007, 10:01 AM
hello, i started a fashion retail store that was a limited company that we had to cease trading on march 10th this year so as not to trade illegally, we started a bit under capitalised and couldnt raise any more money off the banks for one reason or another.

The soliciters landlord of the premises has issued a form with the heading

"statutory demand under section 123(1)(a) or 222(1)(a) of the insolvency act 1986"

we had a ten year lease but we didnt sign any guarantees (Definatly) and we ceased trading as soon as it was possible that we knew we couldnt continue.

We sent them a letter saying that we intended to strike the company off in 3 months due to the company not having enough assets to continue.

it says if it is not dealt with in 21 days the company will be subject to a winding up procedure. Does anyone know what that will involve for me, ie court dates etc? does anyone know if they can make me liable for any of the debt?
I have a young child and a house to look after, so even though my rational sense says the company was shut down properly and its just one of those things i cant help feeling that i may end up getting put into court and made liable.

(Very worried about this)


09-05-2007, 05:27 PM
has the demand been served on, you personally or the Ltd company?

09-05-2007, 05:56 PM
depends who's name the contract was in. company should take responsibility. i dont think you'll find a certain answer on here, i'd recommend asking a solicitor maybe.