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Hello my name is ***** ***** I will and try and help with this.
What would you like to know please?
Hi Alex, ihad a property company that went into liquidation last September a buyer was going to buy an industrial property for 550k before liquidation he paid a substantial deposit which was verbally agreed he is now insisting for his deposit back i did not inform liquidator of this deposit even though it was paid into company account and the only creditor was Revenue & Customs and there is no assets or cash in the company where does this leave and it was a limited company.
Did you offer any form of personal guarantee?
he paid deposit 15 months before liquidation and pulled out of the sale
Ok - did you offer a PG?
no personal guarantee
And it was handed to the company and not you?
yes all to the company payments by cheque to the company over a 8 month period
Ok - so why didnt you declare it to the Administrator?
Didnt the Administrator want to know what the payment was for?
i didnt think he had a case as it was verbally agreed and a hand shake on it being a non refundable deposit to be honest i suppose he thought they where rent payments in as there is a lot of daily transactions on statements
OK - well you need not worry.
If there was no PG and it was paid to the Company then he has lost it
He could have made a claim on the assets but I assume that the company didn't have any money
All he is, is a creditor -
That is it
You are not personally liable although should have declared the deposit
Can I clarify anything for you about this today please?
by not declaring what will liquidator do?
Potentially you could be in for a hard time and possible personally liable. You should have declared it
Its not as if you didnt know about it
But the person can still become a creditor and lodge a claim
Ok many thanks for your help Alex.
Great. Can I clarify anything else for you?
No i fully understand and will go and see a solicitor and also inform the liquidator that the person solicitor will be in contact who paid deposit.
Can I help with anything else today?
No thats fine Alex.x
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