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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 5858
Experience:  English solicitor with over 12 years experience
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I brought shares in a company in 2014. we paid a £6,000 bond

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i brought shares in a company in 2014. we paid a £6,000 bond when we took over the company.
we ran the company for approx 6 months but the revenue potential was nowhere near what we expected, the original owners agreed to take the company back.As the payment was a 'bond' I then requested my £6,000 payment back but all this time later and they are still ignoring my requests.Am I legally entitled to my money back?

Hello,

Yes, you are if there was an agreement that the money was a bond to secure the performance of obligations and that it would be refundable.

I would advise you to send them a letter giving them 14 days to pay the money back or you will take court action against them, if they still fail to pay you, you may file a court claim online for the return of the money at www.moneyclaim.gov.uk

All the best

Customer: replied 3 months ago.
Thanks for your response. In the agreement document it doesn’t state its refundable, does that make a difference?

Yes, as they may argue that the payment was non refundable.

The best thing is to try and negotiate with them and see if they will refund you even half of the money for example.

Please leave a positive rating if this was helpful. Many thanks

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Customer: replied 3 months ago.
Thanks