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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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We had a contract to purchase assets from a LTD company in

Resolved Question:

We had a contract to purchase assets from a LTD company in the UK. The director struck the company off and we continued to pay him for these assets. Upon discovering the company was dissolved we have stopped payments.
The director is threatening to reinstate the company in order to re-validate the contract.
The company in question that was dissolved owes accounts information that is overdue if it were to be reinstated. What chance does he have of being able to reinstate the company, and where would we stand in line with the contract?
If possible i'd like to send you more detailed information and a copy of the contract to get a detailed answer
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
Tech-Hosts Limited was renamed to Riese Limited. Companies house registration number 07418604Dissolved 12/05/2015
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.
I assume you made payments to the Ltd Co?
Alex
Customer: replied 1 year ago.
Hi Alex,As far as I am aware yes, the payments were made to the account details specified in that contract and the contract was between us and the Ltd company."4.3 The Purchaser in satisfaction of its obligations under Clause 2 shall promptly pay the cash consideration without any deduction of bank charges to the Seller by way of electronic funds transfer to its bank account at Natwest, sort code 51-50-11, Account No: 66571405."
Customer: replied 1 year ago.
Hi Alex,In addition to this, I have evidence to show (in the form of a paypal receipt) that "Riese Limited" was trading in May 2015, whilst dissolved. Am I correct in thinking this is illegal?
Expert:  Ash replied 1 year ago.
Have you had the assets delivered up?
Alex
Customer: replied 1 year ago.
Hi Alex,Yes we took over the assets on the 7th July 2014.
Expert:  Ash replied 1 year ago.
Ok, so if you paid and took over the assets and I dont see what the dispute is?
Alex
Customer: replied 1 year ago.
We are paying over a 2 year period, the assets have been transferred. Basically the company we were paying to was dissolved during that period, so in our eyes we believe we shouldn't need to complete the rest of the payments, and that payments we have made in the last 9 months or so are due back to us as the company was dissolved. Hope that makes sense?
Expert:  Ash replied 1 year ago.
I see. In that case its quite easy to get the company re-instated. If you made the payments to the bank account of the Ltd company then those accounts would have been frozen. The money belongs to the company and if and when an order to get the Company resinstated is made, they will be unfrozen.
As it stands you dont owe a debt, but when the company is reinstated you will. Its an easy process to get done.
Can I clarify anything for you about this today please?
Alex
Customer: replied 1 year ago.
So the fact the company was trading during the 3 month period up to dissolution, and just after - they would still be able to reinstate the company?
Expert:  Ash replied 1 year ago.
Yes. Its not a hard process to follow and it likely to be granted by a Judge.
Does that clarify?
Alex
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