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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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This is a story and it would likely be easier if I spoke to

Customer Question

This is a long story and it would likely be easier if I spoke to somebody in a face to face consultation. Would this be possible in a Citizens Advice Bureau near where I live near High Wycombe Bucks?
It is regarding a company I set up in just over a year ago that initially was successful and expanding but with events that have happened recently it may no longer be viable. The company was set up in my name as a sole trader as I am the one financing the company but I have a partner who I work in conjunction with. He and his wife(who is paid as the office manager)do all the administration and pay the wages of the company.
I am trying to wind the company up but my partner threatened that if I did so he would divert any income to another bank account of his own. I agreed to carry on for 3 months in the hope we could get some external finance so we could set up an office to run the company effectively. This has not happened but I think my partner has done what he threatened and has a opened new company bank account in the South West at his wifes sisters address in Cornwall. I could get this confirmed if I contact one of people we have recently been doing a lot of work for that my partner has been agreeing privately.
I am trying to get back the money I have lent to the company in operating costs, outstanding wages and a company loan that I financed to buy a transport vehicle. At the moment the company has assets of approximately £3.5k and the debt to me is around £18k. We have recently lost the contract that supplies us around 70% of or work(although we will appeal and try and get it back) and the company will be in terminal decline if this happens. I would appreciate some advice on my best options to wind up the company with the least amount of pain and cost.
Regards Stuart.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you.

Is this a Ltd company now, as I see you said you were a sole trader?

Alex