Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. Dear *****, I know you don't want to hear this, but the best option at this stage would seem to be to liquidate the company and close the business. As the contract with BOC has been lost, the business is obviously struggling as a going concern. There is the tax amount due to the revenue which your husband seems to have set his face against paying. You would be best appoint a liquidator and seek to reclaim the monies your husband has hidden as these will only give rise to some future liability if these are wrongfully removed from the company.
2. Unless there is likely to be an upturn in trading, there is little reason to keep the company going. Yourself and your husband are better off start a new company with whatever part of the business in profitable and then re-commence trading with whatever is left. I would also query whether it will be possible for you to be in business with your husband in future, should he continue lying to you and cheating the company. However, that is an issue which you must decide for yourself.
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4. Yes, there are potential penalties if a company is struck off. However, if you, personally, resign as a director, then you will not be subject to penalties. You can retain your shareholding which is your ownership interest, but you would not be involved in the running of the company. Be aware that normally, there is only a potential fine if you are a director of a company struck off. It is at the lower end of the scale.