My client is facing a £1500 pounds fine for non-submission of accounts (not my fault). It is loss-making and has intellectual property rights in two films produced and several screenplays. The sole UK director (the other has emigrated to Australia) wants to dissolve the company and assign the rights to a new company he controls before doing so in order to avoid paying the fine. I have told him that would be an illegal preference. Does anyone have any suggestions as to how he could safely transfer the rights to his new company?
21st May 2012 09:48