How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Alex J. Your Own Question

Alex J.
Alex J., Litigator
Category: UK Law
Satisfied Customers: 2536
Experience:  LLB, LPC, DELF
13113900
Type Your UK Law Question Here...
Alex J. is online now
A new question is answered every 9 seconds

UK Company Law. I had my Company dissolved as I wanted to retire.

Resolved Question:

UK Company Law. I had my Company dissolved as I wanted to retire. I mistakenly failed to close the Bank account and under UK law these funds go to the Treasury. As I understand it I can apply to a court to have the company restored and then claim the money back so I have started filling in the forms. It seems fairly straight forward but I would appreciate some help with the 'Witness Statement' and have not been able to find a local law firm that knows about company restorations. Can any of your people suggest a practice near Watford, Hertfordshire, UK? Thanks
Submitted: 1 year ago.
Category: UK Law
Expert:  pilawyer replied 1 year ago.

pilawyer : Hi there, I've restored quite a few companies. Are you aware that you will have to pay a total of £455 in court fees so its only worth doing if there was more than that left in the bank account in question..
Customer:

Yes I am aware. £36,000 to be recovered. Sorry if you had to wait for this response the pop up came up behind another screen. My problem is the model witness statement given in Appendix 'B' of TSol's Guide to Company Restoration uses the words "There is now produced and shown to me marked JHx a true copy of the ....." in sections 1 and 4. The words 'and shown to me' seem a bit odd as I will be the one providing the copies.

Expert:  Alex J. replied 1 year ago.
Hi

Thank you for your question and welcome to Just Answer.

I am a company commercial expert and I can assist you with this if you wish?

Is there any reason why you are not doing this as an administrative restoration? If you dissolved the company in the last 6 years then an administrative restoration may be an option and it does not require a court application.

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 1 year ago.

I have been told that an Administrative restoration will only apply if there is less than £3000 to recover.

Expert:  Alex J. replied 1 year ago.
Hi

Thank you.

The conditions for administrative restoration are under s1024 and s1025 of the Companies Act 2006.

There is no requirement that the assets be less than £3k.

Are the company assets currently vested with the treasury solicitor?

Kind regards

AJ
Customer: replied 1 year ago.

Even if the company was wound up voluntarily? I am not sure under what act/section the company was wound up but my accountant used the phrase "under the old rules, 1985". If Administrative Restoration is possibler then that would be a great help.

Expert:  Alex J. replied 1 year ago.
Hi

Thank you.

You can look at the 1985 act anymore you have to look at the 2006 act only.

Can you tell me about how it was wound up?

Kind regards

AJ
Customer: replied 1 year ago.

1) From your last reply - the assets are somewhere between the bank and the Treasury, I am not sure if they have left NatWest yet.

2) How was the company wound up - I am not sure of the details, my instructions to the accountant were just to wind the company up which he did after two years of my taking dividends to mitigate the tax burden. He went to some lengths to present the Company as a 'small' company in order to avoid a liquidator's fee of £5K. I was not sure whether this was achieved which is why funds were left in the account just in case. Next I knew v- lockdown! However I think that it was dissolved under section 652 of the 1985 act. By the way the funds left in the account were the director's loan account.

 

I have just found what made me think that an Administrative restoration is not possible, try the third question on:

http://www.companieshouse.gov.uk/about/miscellaneous/administrativeRestoration.shtml

Expert:  Alex J. replied 1 year ago.
Hi

Thank you.

I have read the third question that is the list of criteria which state under which circumstances the company was wound up.

If it was dissolved under s652 of the 1985 act was less than 6 years ago and you are making the application as a former member - then the admin procedure qualifies.

What was the specific issue?

Kind regards

AJ
Alex J., Litigator
Category: UK Law
Satisfied Customers: 2536
Experience: LLB, LPC, DELF
Alex J. and other UK Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick Leeds, UK
< Last | Next >
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick Leeds, UK
  • I did not know a French Law service existed and I was very impressed with the speed of reply --- very professional. Many thanks! Ms. Baker Alfafar, Spain
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie USA
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
 
 
 

Meet The Experts:

 
 
 
  • Ben Jones

    Solicitor

    Satisfied Customers:

    8364
    Specialist in UK Law with expertise in UK Employment Law
< Last | Next >
  • http://ww2.justanswer.com/uploads/venkoj/2010-02-20_133027_ben_pic.jpg Ben Jones's Avatar

    Ben Jones

    Solicitor

    Satisfied Customers:

    8364
    Specialist in UK Law with expertise in UK Employment Law
  • http://ww2.justanswer.com/uploads/CH/chathamchamber/2011-4-24_191833_1.64x64.jpg INC's Avatar

    INC

    Solicitor-Advocate

    Satisfied Customers:

    3850
    LL.B, Pg.Dip, LL.M, M.B.A (Pending), Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
  • http://ww2.justanswer.com/uploads/taratill/2010-03-09_111600_phpsik04M_c2AM.jpg Jenny Mackenzie's Avatar

    Jenny Mackenzie

    Satisfied Customers:

    2612
    Over 10 years experience in general legal matters
  • http://ww2.justanswer.com/uploads/matthewjones/2009-9-7_20342_picture_007.jpg Matthew J's Avatar

    Matthew J

    Solicitor

    Satisfied Customers:

    323
    4 y PQE (Partner) - Commercial / Residential Property & Property and Civil litigation experience
  • http://ww2.justanswer.com/uploads/TO/touchwoodsden/2013-12-6_91518_MeforJA.64x64.jpg Stuart J's Avatar

    Stuart J

    Solicitor

    Satisfied Customers:

    5198
    PGD Law. 20 years legal profession, 6 as partner in High Street practice
  • http://ww2.justanswer.com/uploads/RE/Remus2004/2012-4-22_93111_2bigstockPortraitOfConfidentFemaleL6943985.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    24742
    Over 5 years in practice.
  • http://ww2.justanswer.com/uploads/JO/Josh2010/2012-4-29_19490_GettyImages80121770B.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    6561
    LL.B (Hons), Higher Prof. Dip. Law & Practice