Archive for Downsizer For an ethical approach to consumption
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Chez
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Rules about company directors?This is one of those 'someone on downsizer will know' questions  .
If someone folds their company and it goes in to administration (in this case, owing us a wodge of cash), are there any rules about whether they can immediately trundle off and be the director of another company? I understood the the 2006 Companies Act had put some kind of measure in place to prevent this happening - but I've just been through the Companies House website with as finer tooth-comb as I can manage and not found anything about it.
Clearly if the answer to this is 'yes, they can', it's not going to do us any good at all - but I'd just like to know what the ***** are doing with the money they've nicked from us  .
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MarkS
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On what basis has the company folded? I think that that is the key issue. But really you need proper legal advice. Are you in FSB or similar that have a legal advice line?
Have the directors put it into administration or has someone issued a winding up order?
If they knowingly traded while insolvent then the directors are personally liable (I think) How you prove it is another matter. You certianly need to talk to the administrators.
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Chez
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Not sure - think they have just left it and run by the sound of it. All the phone numbers I have are denying all knowledge; but that doesn't mean anything, does it? Companies house is still registering them as trading, so as yet no administrators to contact - but I've just spoken to them and they have a five working day backlog.
We've got a good solicitor and our accountant (the new, benign, sheep-keeping one) is coming round this evening for a council of war.
Things are not great. But at least I'm not panicking any more .
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vegplot
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Re: Rules about company directors? | Chez wrote: | This is one of those 'someone on downsizer will know' questions .
If someone folds their company and it goes in to administration (in this case, owing us a wodge of cash), are there any rules about whether they can immediately trundle off and be the director of another company? I understood the the 2006 Companies Act had put some kind of measure in place to prevent this happening - but I've just been through the Companies House website with as finer tooth-comb as I can manage and not found anything about it.
Clearly if the answer to this is 'yes, they can', it's not going to do us any good at all - but I'd just like to know what the ***** are doing with the money they've nicked from us . |
I'm a little hazy on this but if it's a company then they limited in their liability, often this is a tiddly amount. If it's liquidation then the assets are used to pay off the creditors usually in order of largest first, after the liquidators has taken their fees often leaving precious little for anyone else. We've been caught out by this ourselves on several occasions once for a large amount. If you're owed money you must let the liquidator know.
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