Mothers investment is held as preferential shares, no voting rights.
Yes CVA supervisor petitioned to wind up and liquidate, to be heard mid Dec, reason was failure to pay as per CVA agreement for back tax, plus current tax and none submission of accounts. Not sure on insolvency, no accounts submitted since May 2010. All trade now appears to be through new business name.
CVA was agreement with creditors, this was just tax office. Business not sold. But new business is in the same premises, same trade, same directors, same phone numbers etc.. The new business is a replica of old business, just a new name.
Surely the directors can not continue exactly as before, same staff, same offices, same everything after transferring all assets of first company into second company?
Surely they can not use the bankruptcy of first company to deliberately get rid of a £300,000 plus shareholder?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).