Legal help required AGAIN

**nobody here but us chicke** · 5 July 2006, 18:10

Again? Its your first post.

Well, If you are a director of a company which is trading insolvently (and if you cant pay the debts that sounds insolvent to me) then you become personally liable. ltd liability is not there to protect people running businesses which should cease trading.

What on earth are you doing still being a director if you are not involved? That just sounds stupid.

**Chopper Read** · 5 July 2006, 18:17

We could have paid the debt at £500 per month but not in one go. Should we/they stop trading asap?

**Darren@UptonAccountants** · 5 July 2006, 18:34

Insolvency

You need to speak to an insolvency person....drop me an email and I'll give you a contact number of our local guy.

**Chopper Read** · 5 July 2006, 18:42

Thanks

I've just found my termination of director form from 4th March 2006.

Will they still accept it?

**Clog II The Avenger** · 6 July 2006, 11:09

Originally posted by Chopper Read

We expected to go to sit with the nice judge and plead our case to pay £500 per month off our debt for one of our suppliers. We filled in the form for the small claims court. Two days later when I came home from work I had a bailiff's letter through the door saying he had a high Court order to take possession of stuff to cover the debt. I rang the number on the letter and the guy told me not to worry and that he wouldn't be taking my plasma tv.

I am still a director of the company legally and my house is the registered office. I haven't had anything to do with the business for 6 months though.

Can they only take what belongs to the company? can they take my plasma tv?

Thanks.

This doesn’t make sense. Either it a Small Claim OR High Court.

First thing, do not let bailiffs into to your house. They only have a right of entry after they have sent foot into your home.

Only an insolvency Court can decide if you were trading fraudulently . ( Highly unlikely that they will)

Change the company address TODAY use a mailbox drop off or similar rented office.
Resign as a director TODAY (you can back date it)
Wind up the company and send out notices. NOW
If you have interests in the company after resigning, charge your ex-limited company a admin fee for writing letters to creditors.
Write to the Court to say that the company is insolvent and is in liquidation.
DON’T PAY UP, not even a penny.

Send me £50 for the advice.

Legal help required AGAIN