Advice please

[m3ed]

Just found out on Friday a customer who owes me a lot of money, has taken said company into administration.
What I need advice on is this please:
Basically they have set up a new company with family members connected to directors from the orginal company.They have the same addresses etc as the directors from the other comapny?It also seems on the face of it they have taken over the other companies assets?

Thoughts please

cheers

[M400 NBL]

I'd have thought that they would have an asset register that must be traceable (auditors/bank). If so, they will be made to offset their debts with their assets, but possible non paid suppliers would only get monies owed if there is anything left.

It used to wind me up watching similar companies do the same thing on Rogue Traders.

Edited by M400 NBL on Saturday 6th December 19:00

[Piglet]

Contact the Administrators ASAP and tell them your concerns. Their role is to ensure that things are dealt with legally.

Good luck.

edited to add, if you don't know who the Administrators are you can find out here http://wck2.companieshouse.gov.uk/51f4158149df6228...

Edited by Piglet on Saturday 6th December 18:39

[m3ed]

Thanks for your help so far.
Is this fraudlent trading of some sort?

[Eric Mc]

I was at a Company Law lecture yesterday (show's what an exiting life I lead) and one of the issues which has been tackled by the new 2006 Companies Act is so called Phoenix Companies.

It may very well be illegal so you should contact the administrator immediately.

[Bernie-the-bolt]

Sorry to hear the bad news and this type of story really winds me up...The quicker it's made illegal the better.

Give jamesuk28 a quick pm as he is able to deduce pretty quickly if there would appear to be any dodgy dealings in this type of situation, and of course further action can then be taken.

I hope you have good news, failing that, pm me the company name (or better still the directors names with post code) and I'll do my best too provide home addresses so you can at least go and have a friendly chat.............

[therealpigdog]

unfortunately this sounds like a fairly standard pre-pack administration. am afraid they suck.

old directors aren't allowed to be involved in the management of the company without court permission, and they can face penalties if they are involved - question of fact as to whether they are or not.

am happy to have a quick look at it if you want to PM me some more details - but suspect you will be one of many stading in line at the administrators. sorry i can't be of more help.