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Marcinlondon, Solicitor
Category: Law
Satisfied Customers: 859
Experience:  Qualified Lawyer - 8 years experience
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I invested in a company with total £220,000 +. The company

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Good morning. I invested in a company with total £220,000 +. The company now is facing insolvency. However, this company is a software development company and does not have an asset apart from software. I would like to have a solicitor to check my contracts and see what sort of return i can get.
JA: Where are you? It matters because laws vary by location.
Customer: Birmingham UK
JA: What steps have you taken so far?
Customer: noting
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I am the only active director of the company. The other directors all resigned before the company goes insolvency. Therefore, this might be a bit of a benefit on my end. To schedule the debts. However, once I speak to any insolvency partitioners, they can not look at the view from my side (as a creditor). So I will contract an insolvency partitioner as a director and at the same time, have a solicitor to take care of my debt as a creditor.

Hello, this is MarcInLaw and welcome to JustAnswer. I will be the lawyer working with you today and I will be happy to advise you to the extent possible on this platform. I will review your question and I will be back with my answer shortly. You will get notified when my answer is ready therefore there is no need to wait online. You will have a chance to request a call. You will see an automatic prompt. Please feel free to request it but do not feel obliged to do so. Please do note that my response is not instantaneous but I will always aim to get back to you on the same day with my answer, or request more information, if appropriate. Lastly, please note that our discussion on this site is for general information purposes only and do not replace any legal advice you might need, and does not create a lawyer-client relationship. Thank you for your patience whilst waiting for my answer.

I am sorry to hear about this. A couple of things, I am happy to review the relevant contracts and see if your IP is sufficiently protected, amongst other things, this should be the most important issue for you now, unless I am missing the point. I can make you an offer here if you want me to do it. Secondly, if you are looking for a solicitor to handle your insolvency from the legal side then this service is not for you - we are prohibited from offering legal advice here on this site.

Customer: replied 17 days ago.
no. I am contacting you as a creditor, not a director role. Therefore, I won't ask for any insolvency service. But I would like you to take a look if I am protected from my contract please.
Customer: replied 17 days ago.
Do I need to pay you extra if I would like you to take a look at my contracts?

Correct. The service is payable and I can make you an offer her based on the contracts that you want me to review.

Customer: replied 17 days ago.
Sure. so I sent it over now?

Please do.

Customer: replied 17 days ago.
File attached (P3S22S4)
Customer: replied 17 days ago.
please wait and I still have 2 more to send over
Customer: replied 17 days ago.
please allow me sometime to find
Customer: replied 17 days ago.
File attached (67SMQSV)

Ok, no problem, take your time. I will look at them at some point today, most probably in the late afternoon and get back to you then.

Customer: replied 17 days ago.
ok thank you.
I am still looking for another 1. please bear with and reply me this afternoon please. thank you

Ok, thank you for letting me know. As stated, please do not rush as I will be unavailable until late PM in any event.

Customer: replied 17 days ago.
File attached (TZM4V2Q)
Customer: replied 17 days ago.
the loan addendum agreement - Aug 2021. You can see there that my entire loan has moved to be repaid on the 1st of March next year. Therefore, I believe I still have a chance there to get the money back. Cos its not very far away from now. But please do take a look and let me know if my agreement has any benefits or conditions to protect myself and any chance to get my loan back. many thanks.

I have had a look at the documents and do not think it would be appropriate to make you an offer as I have not seen anything in the agreement which could materially advance your situation. What you need to note is that the loan is unsecured, and you did expressly include it in the agreement.

Feel free to ask any follow up questions. I will help to the extent I can.

Marcinlondon and other Law Specialists are ready to help you
Customer: replied 16 days ago.
that's very sad, but thanks for checking