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Buachaill
Buachaill, Barrister
Category: Law
Satisfied Customers: 10623
Experience:  Barrister 17 years experience
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I have another issue with a N.Ireland bank Do you wish to

Resolved Question:

I have another issue with a N.Ireland bank Do you wish to help me with that?
Submitted: 1 year ago.
Category: Law
Expert:  Buachaill replied 1 year ago.

1. Yes, I would be delighted to assist you. If you want to set out the facts, I will do my best to answer your queries.

Customer: replied 1 year ago.
I had another business which I started up after I sold PMH. I sold the new company Andronics Ltd to another U S company. However they were only interested in making money on the U S Stock Market in Pump and Dump schemes which is what they did with Andronics Ltd. Anyway they bought the customers and Intellectual Properties off Andronics through a wholely owned U K company but not the shares of Andronics Ltd We were to be given shares in the parent company but that didn't happen. The customers continued to pay the monthly and yearly subscription into our Andronics Ltd account in the First Trust Bank in N.Irelanfd but on 8 th October an American lady who had no authority to close our account She was used to do due diligence for the U S company and worked for an independent firm of Accountants in U S. but was not employed by either Andronics nor the U S company that 'bought' us. The bank have written to me agreeing they should not have closed the account and offered £500 compensation which I refused as derisory. A writ was issued and a Statement of Claim given and a defence has been offered by the bank. The bank justified the closing of the account because HMRC had issued a winding up petition because Andronics had not paid employees tax and national insurance. The US company and Andronics had signed an asset purchase agreement and taken over the running of Andronics Ltd in December 2007 and under TUPE the British subsidiary of the US company should pay the employee tax and National insurance. They paid £20K for each of 2 months and then stopped. When the American lady closed the Andronics Ltd account no money could go into the account and therefore Andronics was not able to negotiate with the HMRC about a compromise even though Andronics did not owe HMRC any money as a result of TUPE. Over £5M was invested into Andronics to pay for R& D using highly skilled software and hardware engineers from 1998 to December 2007 and Andronics Ltd had contracts with B P Gas Amerigas in the US and Sinogas in China. On 30th September 2008 The Americans rescinded the agreement and wrote to the customers to this effect and told the customers that Andronics would take over the business again They transferred the software from servers in our premises to Servers in Texas and moved to offices in the same industrial estate. They formed a new company in the U S and and a wholly owned subsidiary in U K and continued supplying the service to the customers from the new offices. They did not pay the rent to the owners of the new premises and eventually were forced into compulsory wind up. The new company moved to other premises in N. Ireland and continued with the business with the customers that they picked up from Andronics Ltd.
The new U S company was formed in a State where it is not necessary to make public shareholders nor directors but it is my belief that the same people are behind it.
The above is purely written for background information.
The bot***** *****ne is that the bank have admitted in their Defence that they shouldn't have closed the account but justified it in another way by saying Andronics was being wound up by HMRC. My argument is that the money which should have been going into the Andronics Bank Account was diverted to the U S Subsidiary's Bank Account. The U S owned subsidiary was called SARS Andronics Ltd. The customers of Andronics Ltd paid money by cheque standing order and direct debit into the Andronics Ltd bank account. When the account was closed on 8th October 2008 Andronics Ltd therefore was starved of cash
Someone also changed the Andronics Ltd Euro Account in approximately June 2008 and no authorised person was involved in the name of the account being changed to SARS Andronics Ltd.
Contrary to what they say in their Defence that because Andronics Ltd was being wound up they closed that account the SARS Andronics Euro Account is still in existence in spite of the fact that SARS Andronics Ltd was wound up in 2009. I have tried to find out exactly what money that should have gone into the Andronics Ltd account since June 2008 was diverted into the SARS Andronics Ltd. How can I get this information?
Expert:  Buachaill replied 1 year ago.

2. You need to bring a motion in your litigation seeking Third Party Discovery or Disclosure in relation to the accounts of SARS Andronics Limited. Essentially, in your claim you raised the issue that the bank should not have closed the account. Accordingly, there is the issue of what monies should have gone into the account which didn't. This issue raises the question of the quantum of damages which are appropriate. So, you seek Third Party Disclosure on the basis that you cannot assess the amount of damages without the accounts of SARS Andronics Limited. Seek copies of their accounts of the account into which the monies went on the basis that these documents are necessary in order to assess the quantum of damages which are payable to you by the bank.

Expert:  Buachaill replied 1 year ago.

3. Be aware that a court will only order Discovery or Disclosure where you can tie the documents you seek into the terms ofthe claim you are bringing. Where bank accounts are concerned, the courts are always reluctant to make an order unless you convince them that they are really necessary for the claim you are bringing. However, this is how you crack this nut!

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