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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A limited company has been dissolved which owes me a considerable

Resolved Question:

A limited company has been dissolved which owes me a considerable amount of money. I am aware that I can not sue the company as it no longer exists. However the company has left 3 vehicles on my land upon which I am holding a lien in respect of the monies owed to me. I have been in touch with the Bona Vacantia Division of the Government Legal Department (Treasury) who have asked me for evidence that the vehicles were property of the company at the time of its dissolution.
The BVD say that they are likely to disclaim any interest in the vehicles.
If that is so , how can I dispose of the vehicles in order to realise part of the money owed to me? I do not want to be accused of stealing them by the former director of the company.
I await your advice.
Thanks
C A Davies
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
You need to write to the Treasury Sols and as the assets belong to them technically give them 28 days to claim ownership. If not then you are quite at liberty to sell them on and use those proceeds to recover your debt.
Clearly if the proceeds leave a surplus then you need to forward that to Treasury Solicitors. The old Directors cant claim ownership if the vehicles dont belong to them.
But if Treasury says they are not interested then you can just dispose or sell them and recover any monies due. But make sure you have everything in writing in case there is an issue.
Can I clarify anything for you about this today please?
Alex
Customer: replied 2 years ago.

Thank you for advice and prompt reply. I take it that the old director can not claim ownership because the company no longer exists. I will write to the Treasury as advised.

Expert:  Ash replied 2 years ago.
Great. That is correct.
If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.
If you need more help please click reply.
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.
Does the fact that the company has other creditors affect my lien and sell off of the vehicles? I know that he has paid off some creditors without informing companies house..
Expert:  Ash replied 2 years ago.
No. You have the assets and you can sell.
Alex
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex