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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Evening, Graham Kitchen Centre Ltd a company registered in

Customer Question

Evening, Graham Kitchen Centre Ltd a company registered in Northern Ireland.
An employee has taken the Company to the industrial tribunal
He has been awarded a redundancy payment of £13500 in January 2015
Graham Kitchen Centre Assets is a commercial building,
The Bank have a 1st charge over these Premises,
The Band appointed a fixed charge receiver in April 2014 over these premises.
The Ltd Co have no funds to pay the redundancy.
The Ltd Company is still trading, they have are not gone into, liquidation or Bankruptcy.
Could a token offer be made to this employee, the Director would have to take a personal loan to make this payment, would you advise this action
Director George Graham
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts :

Hello George my name is ***** ***** I will help you with this.

Alex Watts :

Are you the Director or the ex employee please?

JACUSTOMER-4l9h0hyu- :

I AM THE Director

Alex Watts :

Why would you want to make a personal payment when you have the protection of a Limited company?

JACUSTOMER-4l9h0hyu- :

Curently the Ltd Co has a very limited income,

JACUSTOMER-4l9h0hyu- :

Also the does not have cash to make the payment,

JACUSTOMER-4l9h0hyu- :

How do I respond to the award that has been made if the Ltd Co can not make the payment.

Alex Watts : Ok, I assume you don't want to be personally liable ?
JACUSTOMER-4l9h0hyu- : That is correct I do not want to be personally
JACUSTOMER-4l9h0hyu- : that is correct I do not twant. To be liable personally but I would like to try and reach an agreement with the clamient so that the Ltd is not put into Bankruptsy Is this the best option and the way to go forward
Alex Watts :

If a Receiver has been appointed, is there any way out for the Ltd company anyway?

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