This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more hereX

Home > Discussion Forum

Discussion Forum

vicbrown vicbrown is offline
Entrepreneur
Join Date: Feb 2006
Posts: 27
Liability with Limited Companies

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)

cheers
Reply With Quote
Limeone Limeone is offline
Maven
Join Date: Mar 2006
Posts: 56
Who

has the demand been served on, you personally or the Ltd company?
__________________
Http://www.limeone.com
T 01244 852550
F 01244 241120
Reply With Quote
mediaroots mediaroots is offline
Connector
Join Date: Apr 2008
Location: London
Posts: 257
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.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT +1. The time now is 12:05 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd. Copyright Shell LiveWIRE 2005-2009