Ask a Law Question, Get an Answer ASAP!
Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Has the liquidator issued proceedings against you? How long ago was the company purchased?
Hi, Thank you. The problem with hiding your money to avoid creditors, is that liquidators have wide powers to unwind any transaction to recover company money. If you paid each others mortgages for a charge, and the liquidator sued you personally and made you bankrupt, they would just enforce the charge. The best way to deal with this is to consider other outcomes (i) Suing the accountant that advised you (ii) can you make it as unattractive as possible for the liquidator to sue you - considering this can you tell me how the dividend was illegally declared? Did you not pass a resolution? Kind regards AJ
Hi Thank you. Yes you are correct - it is unlikely they will get an order for sale if there are children under the age of 18 in the house. They way you can make a claim unattractive is if the claim is expensive with no prospect of a return, if the liquidator does not have the money bring a claim then they wont have money to compile evidence. If they make allegations I would only respond if they give you access to the company books for example - this in itself would be an expensive process - you would also get to see what evidence they actually have. This exercise may put them off bringing a claim.