One of our clients went under in February, did a moonlight flit from their premises and advised us informally by phone that our debt would not be paid. You take the call, shrug and move on waiting for the paperwork.
Months later we realised that the liquidators have not been in touch yet so we start to dig...companies house and the gazette have nothing about the liquidation. Two of the shadow directors of the old business have emerged in the same trade elsewhere allegedly with the stock from the failed business. The only remaining real director of the failed company is working in a separate business that used to share premises with them until the crash. His approach is that they can't afford a liquidator so he's doing nothing.
1 the ultimate owner of the failed company (through 100% owned dormant businesses) is a wealthy chap who could easily settle the debts. How can we make the pips squeak?
2 surely use of the stock in a separate business is theft from the creditors? Who can tackle that one given that they won't make it easy or obvious?
3 how long can they ignore the business failure given that no-one is going to pay for a winding up order with little hope of any recovery?
We know we won't see our £2.5k again but we would like them to find it a rockier ride than they are expecting. Creative Machiavellian suggestions appreciated!
Months later we realised that the liquidators have not been in touch yet so we start to dig...companies house and the gazette have nothing about the liquidation. Two of the shadow directors of the old business have emerged in the same trade elsewhere allegedly with the stock from the failed business. The only remaining real director of the failed company is working in a separate business that used to share premises with them until the crash. His approach is that they can't afford a liquidator so he's doing nothing.
1 the ultimate owner of the failed company (through 100% owned dormant businesses) is a wealthy chap who could easily settle the debts. How can we make the pips squeak?
2 surely use of the stock in a separate business is theft from the creditors? Who can tackle that one given that they won't make it easy or obvious?
3 how long can they ignore the business failure given that no-one is going to pay for a winding up order with little hope of any recovery?
We know we won't see our £2.5k again but we would like them to find it a rockier ride than they are expecting. Creative Machiavellian suggestions appreciated!
How long can a company NOT go into liquidation for?
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