UK Bankruptcy Law
UK Bankruptcy Law Questions Answered by Verified Experts
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?