As a company we provide a range of services not limited to debt recovery, from access to merchant services to vetting your potential clients. Find out more >
With over 12 years experience in the debt recovery industry, our professional and direct business-to-business collection approach allows you to feel comfortable in knowing your debts are in the best place and stand the best chance of recovery.
We provide a tracing service to locate absconded debtors, also access to a comprehensive credit checking facility and the option to place a credit tracking monitor against existing accounts with an immediate update should circumstances change.
With our combined systems and customer service, we are in a position to gather information regarding any business within minutes and advise you on availability of your debt.
Should your debt be collectable, one of our highly trained account managers will advise you on the likelihood of recovery along with an estimated length of time the collection should take.
We provide a range of services not limited to debt recovery, from access to merchant services through to vetting your potential clients. For this reason we believe we have a package to suit your business.
From a directors perspective dissolution may seem an attractive alternative as it avoids formal investigation into the director’s conduct. However, dissolution does not terminate existing contractual arrangements and if the directors are aware of potential actions against the company, dissolution will not avoid them and will only become a weight hanging over the directors shoulders throughout the 20 year period. Dissolution does not preclude the company from being restored to the Registrar of Companies, liquidated and actions brought against the directors if appropriate.
The very fact that the directors had not taken the relevant steps to deal with the affairs of the company allowing it to be wound up compulsorily is in itself, an indication that they were not effectively controlling the company. Additionally, it can be regarded that allowing the company to proceed into compulsory liquidation may represent a breach of the directors fiduciary duty to the company and his obligation to minimise losses to creditors where the directors are aware that there is no reasonable prospect of avoiding insolvent liquidation. Each of these matters rank highly when consideration is being given as to whether there are merits in pursuing an action for the disqualification of the directors and subsequent potential liability to compensation orders.
Prohibited names (s216)
When a company goes into insolvent liquidation, anyone who was or acted as a director of the company in the 12 months before the liquidation must not act as a director of another company or business with the same or similar name for 5 years (section 216 of the Insolvency Act 1986). This is known as a prohibited name. Breaking this rule may be a criminal offence, and that individual may be personally liable for any company debts incurred while the name is prohibited.
There are 3 exceptions to this rule. In brief, these are:
- sale of the business by a licensed insolvency practitioner giving the legally required notice;
- where the individual gets the court’s permission to use the name;
- where another company or business has also been using the same name for at least a year (subject to conditions).
For further information please see Re-use of a company name after liquidation