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Buachaill
Buachaill, Barrister
Category: Republic of Ireland Law
Satisfied Customers: 10174
Experience:  Barrister 17 years experience
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Hello I have an Irish court judgement against a company in

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Hello I have an Irish court judgement against a company in the uk (they do business throughout Europe). It is for a lot of money but I have an issue as I don't know if I will ever get the money - my solicitors dragged their heels and took over three years to get me the judgement and meanwhile the company has changed names twice and is now dormant showing no assets. The two people who owned it are now directors of separate uk registered companies. They owe other people money also including a supplier. They appear to have a history of selling franchise businesses to people and then bailing out with the money without delivering on the business successful start up promise. What direction should I go with this now please? My Irish solicitor doesn't really know how I can recoup anything now.
Submitted: 3 years ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 3 years ago.

Buachaill :

1. At the outset, I would advise you to carry out a private investigator search on the company to see if it is still trading in any fashion, as at this stage, your best hope of recovery is to appoint a receiver to the business to gather in the value of the judgment. Otherwise, you will be left with nothing as winding up the company will leave you with nothing if it has no assets. However, if you wish, you can seek to impose some restrictions on the directors by appointing a liquidator who will handle the winding up and make a report to the Department of Business, Innovation & Skills if the directors behaviour has not been up to scratch. This however, requires money and it will not get you back the value of your judgment. I regret to say that this is one aspect of company law which allows a measure of abuse of the privilege of limited liability. The lesson to be learned from it is to do good credit checks on the directors of each company you deal with and if necessary get a personal guarantee from a director for the money you may be owed, as ultimately, you will be left with nothing if you have to seek recovery from a company structure. I regret to say that imposing personal liability on directors of a company is extremely, extremely rare and would require some element of fraud to be involved. So you need to negotiate additional protection if you are dealing solely with a limited company.

Buachaill :

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Customer:

Hello Sorry I just saw your response now. I was hoping that there could be some light at the end of the tunnel with this and not a continual wild goose chase. All my communications with these people that 'ripped me off' was from their personal email addresses. I have all those emails. Can you advise me on what type of company I can use to 'investigate' their company. I know it is showing as dormant and no assets from the company director information sites and that's without even paying anything to see detailed reports.

Customer:

Thank you.

Customer:

Is it possible to claim money from other companies they are currently directors of because effectively they are just closing down some companies where people are chasing them for non payment of money owed and then moving onto their next company.

Buachaill, Barrister
Satisfied Customers: 10174
Experience: Barrister 17 years experience
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