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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I invested in a company and became a shareholder. Due to a

Resolved Question:

I invested in a company and became a shareholder. Due to a number of reasons we have decided to instruct insolvency practitioners and we are within days of instructing them. They are very good insolvency practitioners and they will ensure that all creditors (of which I am one) will be treated fairly and in the same way. We have another company that will buy the assets after fair valuation.
- One of the creditors had a number of invoices that are in dispute. They were a sort of one man band recruitment agent. Over a number of years they allowed the past owner to switch from the agency to permanent staff at no cost however in the T&C's it does say this should be charged so years later he has invoices the company for £50K.
- We have not accepted them as invoices, but the agency guy instructed a solicitor who now is chasing payment. He is aware that we have instructed insolvency practitioners.
My question is:
1) The solicitors are asking for me to provide details of the insolvency practitioner. Should I provide this or should I just say that they will be treated like any other creditor and the practitioner will be in contact in due course.
2) How likely is a solicitor likely to start legal proceedings. (Roughly speaking 20p in the £ will be paid to each creditor).
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
1) You dont need to provide this yet - they can be contacted in due course
2) Unlikely as even if they start proceedings and you later instruct an IP, their status as an unsecured creditor remains the same.
So in reality they are spending money on Solicitors and even Court fees if they issue which they can't recover.
Can I clarify anything for you about this today please?
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Hi Alex W,
Thank you very much for answering my question. I thought that was the case but great to get it confirmed.
Thanks again.
Kind Regards,
Colin
Expert:  Ash replied 1 year ago.
Good luck Colin
Alex
Customer: replied 1 year ago.
Hi Alex,
In fact I have another question for you. Happy to pay the same fee so if you let me know how I pay for the next question.My question is:
- The recruitment guy was with the company for a long time (before we started).
- The staff he provided us with were low paid and as such he agreed verbally that they could transfer from being agency staff (i.e. working for him and contracted to us) to working for us. He allowed this a number of times over a number of years.
- However when he left the company he sent us an invoice for all the staff that had transferred over a number of years. In his T&C's it said he could charge us 6 weeks at their hourly rate.What is the best response to this?
Is it that as he delayed the invoice (for years in some occasions) that it backs up our version of events or does it not matter that he left it years before invoicing?
Expert:  Ash replied 1 year ago.
Sadly you need to start a new question for this, but if you request me I can answer it for you.
Alex
Customer: replied 1 year ago.
No problem, I've asked the question but it didn't allow me to select you (or I didn't see it) so hoefully you'll see it in a queue and assign it to yourself.....Colin