Thank you for your reply.
The liquidator has supplied us with a list of creditors (me the biggest unsecured as 5 days later we would have had an Interim Charge going before the Courts). He has then listed apparently independent valuations for the assets. Amongst the assets is a book value of the stock of £150,000 yet the valuation has reduced this to £20,000. The Meeting of Creditors was on the 19th August 2015, yet, the director had a new company set up in February which commenced trading on the 31st May 2015. How could the new company start trading if it hadn't paid for the stock? And apparently, most surprisingly trade has recently improved??
There is also a freehold building listed as an asset (which I am sure is valued at least £100,000 below its market value) which has not been paid for yet, plus there is owed to the company, but written off at the moment £108,000 from the Director's other 100% owned company. This must reflect a conflict of interest?
Thank you for your help. I believe that it was all pre planned since the new company was purchased for the director last February. We were in Court in March and his new company started trading on the 31st May. The creditors meeting was timed for 5 days before my court orders could be secured on the freehold property.
The director argues that I caused the insolvency but if a charge had gone on the freehold property it would not have effected its financial status. Also since no accounts were presented to companies house last year he obviously knew that the company was in financial difficulty and failed to inform the court when the order was made. Was this wrong and was it fraudulent trading since he had been planning his exit for 6 months before the creditor's meeting was called.