Company has patitioned insolvancy ....when can i go for their clients


M

Mick Miller

I resigned as a director ......288b all done

and the remaining director who wanted to leave the company was left
with it as she would not accept my offers to buy out

she wanted to destroy it by forcing the partnership insolvant

Company has patitioned insolvancy ....when can i go for their clients
 
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D

Dave

I resigned as a director ......288b all done

and the remaining director who wanted to leave the company was left
with it as she would not accept my offers to buy out

she wanted to destroy it by forcing the partnership insolvant

Company has patitioned insolvancy ....when can i go for their clients
what is forcing your reticence to do so immediately?

The company is insolvent and about to be wound up, and in the meantime
the customers have to find an alternative source of supply... why
shouldn't it be you?

Dave
--

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The internet is too big to fit in your recycle bin
Do you REALLY want to delete it?
----- + ----- + -----
 
E

Edward Cowling London UK

Mick Miller said:
I resigned as a director ......288b all done

and the remaining director who wanted to leave the company was left
with it as she would not accept my offers to buy out

she wanted to destroy it by forcing the partnership insolvant

Company has patitioned insolvancy ....when can i go for their clients

It depends on how you mean "go for" ?

You can immediately phone them if you are now operating a separate
company and want to offer them your services. However if you are
offering to continue service from the old company or perhaps offer
support contracts then this could well be considered as Good Will
belonging to the old company. Then the liquidator is likely to want a
sum of money for it.
 
F

Frank X

Edward Cowling London UK said:
It depends on how you mean "go for" ?

You can immediately phone them if you are now operating a separate
company and want to offer them your services. However if you are
offering to continue service from the old company or perhaps offer
support contracts then this could well be considered as Good Will
belonging to the old company. Then the liquidator is likely to want a
sum of money for it.
I might be stupid but if a someone was willing to pay money for a company
and presumably guarantee to cover its debts.

Surely that course should be taken rather than forcing liquidation?
 
E

Edward Cowling London UK

Frank X said:
I might be stupid but if a someone was willing to pay money for a company
and presumably guarantee to cover its debts.

Surely that course should be taken rather than forcing liquidation?
This does happen. I have known angry creditors turn up at the meeting
and make an offer for the company. Usually this only happens if they
feel the Goodwill is significant.

But of course (cough) as the Directors pay the liquidators fees they
normally get the kind of winding up they want.
 
M

Mike Lewis

Company has patitioned insolvancy ....when can i go for their clients

Right now. Why wait.
 
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F

Fred

Mick Miller said:
I resigned as a director ......288b all done

and the remaining director who wanted to leave the company was left
with it as she would not accept my offers to buy out

she wanted to destroy it by forcing the partnership insolvant

Company has patitioned insolvancy ....when can i go for their clients
If you have resigned then you become what is normally termed a shadow
director. In theory you should still behave in the interests of the company
you were a director of for one year.

Taking the client list can be risky on two parts.

1 Your knowledge of these client would be regarded a privilege of being a
director of this company.

2 You are not safeguarding the assets of the company, for the benefit of
the creditors and possibly shareholders.

It all depends on their value. Is there likely to be any other party
interested in such. Can you afford any court costs if the client list and
goodwill is sold to another party. A non director employee has far more
leeway in this respect. He can virtually go after these clients with
impunity.

I find such matters get very messy without agreement.
 

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