Post dissolution "dividend"!

Post dissolution "dividend"!

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A company "X" was dissolved in December 2009. It was owned by one individual, also its director H.

It would appear that this winding up was not dealt with in any organised or regular fashion. No liquidation or application for informal dissolution made, and probably not application for ESC C16 etc.

The company held a 50% interest in another company "Y" which held about £15k in cash at the time of dissolution. In October 2010, Y paid a dividend of £15k and that which would have belonged to X had it still been in existence ie £7.5k was credited to H's loan account and subsequently paid out to him. H is also a director of Y

"Y" is still on the register, now commercially dormant.

Is the position:

(a) Y could only pay a dividend of £7.5k

(b) Y has made a loan to H

(c) Y must pay it back.

Or something different, in which case please advise. Thoughts?

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By dropoutguy
28th Feb 2012 22:26

Something different

That £7,500 is due to HMG. :(

And that H must offer to buy back the shares from the Bona Vacantia people.

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