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Alex J.
Alex J., Solicitor
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Experience:  Solicitors 2 years plus PQE
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An old business partner used her company card to take money

Resolved Question:

An old business partner used her company card to take money without permission to fund her own start up. She removed £11,000 in total and 18 months later is still refusing to agree to proper and fair repayment terms. What can I do? I don't think she actually has the money to repay at the moment, can I threaten to go to the police if she doesn't agree to some sort of repayment?
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Firstly this is almost certainly theft and fraudulent - if she was wilfully deceiving the company and removing the money that is not her property with an intent to permanently deprive then it is theft. You should definitely make a complaint to the police.
Secondly- was she on the banking mandate?
Kind regards
AJ
Customer: replied 2 years ago.

Thank you for your super fast response. Yes she was on the banking mandate, we had originally started the company together but this all happened after she was no longer a director or shareholder but still had access to the banking as she helped me with the financial organisation etc. I agreed to lend her £3000 for her new start up and then the next thing I knew the company account had been emptied and the credit card maxed out.

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
Did the banking mandate require two signatures?
Do you know where the money was paid to? Was it her personally?
Kind regards
AJ
Customer: replied 2 years ago.

No the mandate was set up to need only 1 signature. It was paid out in a mixture of ways, some she paid to herself personally, some she paid for goods and services for the new company using her card.

Expert:  Alex J. replied 2 years ago.
Hi,
Thank you.
I think as a start point you should ask her to repay the money.
Do you have insurance against this kind of thing?
The problem is, if she does not have the money then there is little point in suing her? You would be better off reporting it to the police and then making an insurance claim.
Does she own her own house that you could potentially enforce a Judgment against?
Kind regards
AJ
Alex J., Solicitor
Category: Law
Satisfied Customers: 3557
Experience: Solicitors 2 years plus PQE
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