Reduction Of Share Capital

[orbit123]

Hi,
One for anyone that might be a bit of an expert on company law...

I’m trying to find more out about a customer that owes us quite a bit. I can see from Companies House website that they’ve reduced their share capital recently (past few days). I have the copy of their Memorandum or Articles and Association but I believe that in order to have carried out the reduction in share capital they must also have completed a Solvency Statement under the new Companies Act 2006 rules (I’m fairly sure this did not go via a court proceeding route).

My question is, will this Solvency Statement eventually be available on Companies House website for anyone to see? If I won’t see it online how would I know this had been received by companies house?

My accountant not sure how this works in practice and was too late in the day to call anyone else. Any help or pointers would be greatly appreciated. I've trawled everything I can find relating to the new reduction procedures.

Thanks.

[wattsm666]

I haven't got the books in front of me, so could be wrong, but I don't think a solvency statement has to be filed at Companies House. The directors' do have to be satisfied that a reduction of capital will not prejudice the creditors of the company for 12months.

HTH

[orbit123]

Hi,
really appreciate the response and that was the initial thoughts of our accountants. I think the original signed solvency statement must stay with the company that signed it.

However, I read on the following site:
http://www.businesslink.gov.uk/bdotg/action/ruDeta...

"Within 15 days after passing the resolution, the company must deliver to the Registrar of Companies:

a copy of the solvency statement and the resolution
the memorandum
a further directors' statement confirming that the solvency statement was made no more than 15 days before the resolution and was sent or made available to the shareholders as required"

This suggests that a copy should go to Companies House. But would that be something thats available for download in the same way as the memorandum was? Or would that be a hidden document kept in a file by companies house.
I really just want to know when the reduction of share capital should be complete and elsewhere it states that its only complete once these documents have been delivered to the Register of Companies.

thanks.