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vicbrown vicbrown is offline
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)

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Limeone Limeone is offline
Join Date: Mar 2006
Posts: 56

has the demand been served on, you personally or the Ltd company?
T 01244 852550
F 01244 241120
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mediaroots mediaroots is offline
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.
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