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When a company gets made bankrupt?any redress with new company formed

5 replies

devonvalley · 03/04/2011 20:59

A company we were due to sue in court and we had a very strong case, was made bankrupt by another company- three weeks before our court day! This company had a a order of bankruptcy for only a year, now he has started up a new building company just with a minor change to the previous company title!Do we have anyway of getting the monies owed /compensation due to us or because he was made bankrupt that's it?

OP posts:
Grevling · 03/04/2011 21:21

No the two companies are seperate. You could still try and sue the old company if it has any assets left but probably not worth the hassle or the money.

WestMidsAccounts · 03/04/2011 21:25

You started off talking about 'a company' being made bankrupt but then say 'he was made bankrupt'. Can you be more precise and specific please? Was it a company or a person?

If you mean the original set-up, a Limited Company, was liquidated; can we claim against the new set-up, a new Limited Company set up by the same Director, then the answer is 'no'. The two companies are separate legal entities - you cannot chase the debts of one to the other. After all, that is the whole point of Limited Companies. As they say, the clue is in the name: the liability is limited.

devonvalley · 03/04/2011 21:31

Thanks so far.It was against the company,he was director of. So no chance of getting the £30k back then.....

OP posts:
Collaborate · 03/04/2011 21:34

Just check that the contract was with the company and not him personally.

devonvalley · 03/04/2011 21:39

Was with the company....(Rogue Traders number?.....)

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