I have a company that can not make its payments anymore, it has close to a £15,000 debt in rent arrears, stock of no more than £4000, the company its self owes me roughly £40,000, i am a guarantor on the company premises, which we owe all the rent on. I need to get the company wound up as soon as possible so the rent stops being owed on the premises so my end bill will be as small as possible. What options do i have if any?
From what you say creditors voluntary liquidation would appear to be the most appropriate option available to you. This is a simple process particularly as you appear to be the largest creditor. However I would want to see some up to date financial information before confirming this as it is possible (albeit unlikely) that a different option is more appropriate.
As a company director when it is apparent (or should be apparent to a reasonably competent company director) that a company cannot avoid insolvent liquidation they have an obligation to ensure the interests of creditors take priority over all others. A failure to do so can result in the director having to contribute to the assets of the company personally.
12th December 2018
Small and medium-sized enterprises (SMEs) across the UK are paying increasingly large sums of money to collect amounts owed to them by their clients and customers.Read More
4th December 2018
The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.Read More