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Alex J.
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3671
Experience:  Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
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Hello, I want to bring a breach of contract claim against a

Customer Question

Hello, I want to bring a breach of contract claim against a company which was put into voluntary liquidation by its owner, a large quoted fund. the company at the time of liquidation had nearly £1 000 000 in cash and it expects to return that to its parent. what are the issues for me in this situation, i.e. timing, leverage vis a vis the liquidator, etc. Thanks
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Alex J. replied 3 years ago.

Alex J. : Hi. Thank you for your question and welcome. My name is AJ and I will assist you. You can't start proceedings against a company in liquidation. what is the nature of your claim against the company? Why has £1000000 been dissipated to the parent? Kind regards AJ
Customer : It is a beach of contract claim stemming from when I was employed there. The £1 million in cash is net assets which will go to the holding as it is a voluntary liquidation. Are you sure you can't start proceedings in this instance? I have heard otherwise.
Alex J. :

Hi, Thank you. If the company is already in liquidation you cannot start proceedings, you have to register your claim with the liquidator. If this is voluntary then it may well be a solvent liquidation. Is that the case?

Customer : Yes, it is.
Alex J. :

Hi, Thank you. Why dont you start by submitting your claim to the liquidator. If they accept it then you will be paid in full as it is a solvent liquidation.