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Can anyone recommend an insolvency practitioner?

I need someone to liquidate a really small company with 2 creditors.

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Hi all,

 

 I need someone to liquidate a really small business with 2 creditors and no assets.  Both creditors know it has to go.

It"s in Central London but could all be done remotely.  It's a small little cafe business inside an office building,  The landord is the creditor and everything else is paid up.

 

Thanks

 

 

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RLI
By lionofludesch
09th Sep 2019 10:07

Who'll be paying his fees ?

Who wants the formal liquidation so badly ? Both creditors seem resigned to writing off their debt.

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Replying to lionofludesch:
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By dmw2210
09th Sep 2019 15:00

It will crystallise a lease and end a personal guarantee issue.

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Replying to dmw2210:
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By lionofludesch
09th Sep 2019 15:27

dmw2210 wrote:

It will crystallise a lease and end a personal guarantee issue.

Well, if that's all you're prepared to disclose, I can only say that the guarantor needs to settle the debts that he has guaranteed.

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Replying to lionofludesch:
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By dmw2210
10th Sep 2019 07:57

I think its relatively easy. Small company with lease on a cafe bar space inside an office building. A director guaranteed the lease but only until the company is liquidated. The freehold of the building changed hands. The previous owner had been forgoing rent as the project wasn't working and he wanted the tenants of the building to still have a cafe offer. They didn't tell the incoming freeholder the full details and just included the rent owing as arrears. The new freeholder discovers the full situation and also agrees to not charge rent. Then 6 months ago he changes his mind and thus there is six months arrears.
The site is not saleable as its not really a profit centre. The landlord is a very fast growing business and does not have the time or the will to deal with it.

Suppliers are all paid up front. Staff paid weekly. No fixed assets as the landlord built the unit and retains ownership.

The Director has supported the business with loans that are outstanding. Landlord now wants £25k in rent but knows he wont get it. Landlord might chase the director after the company is liquidated but thats a different story. There are notes of meetings saying they wouldn't charge rent but that's about all. Not the crux of the case here I don't think.

So just looking for a small insolvency business to wrap it all up. I don't think just filing to strike it off would work.

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Replying to dmw2210:
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By lionofludesch
10th Sep 2019 09:17

dmw2210 wrote:

So just looking for a small insolvency business to wrap it all up. I don't think just filing to strike it off would work.

Your problem might be that, if the company is insolvent, you might need a creditor to instigate proceedings.

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By Duggimon
09th Sep 2019 14:10

If the creditors write off the debts and there's no assets then you just file a form with Companies House, there's no need for a liquidator unless there's more going on than you've told us.

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Replying to Duggimon:
By Red Leader
09th Sep 2019 14:19

Duggimon wrote:

unless there's more going on than you've told us.

There usually is.
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By zarar
09th Sep 2019 15:07

Try Quantuma

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Replying to zarar:
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By dmw2210
10th Sep 2019 07:47

Thanks - will give them acall although they look a bit big for this case.

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Lisa Thomas
By Insolvency Practitioner
10th Sep 2019 10:30

Hi I'd be happy to give you some advice and a quote.

Feel free to contact me.

01752 786800

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