Can a dissolved company pursue its debts from debtors?

[Raymond Lin]

Just wondering, after a company has been dissolved, does anyone know what happens to people who still owes it monies? Can a dissolved company still pursue debts that it's owe to it?

 

[Cob]

I'm pretty sure the liquidators appoint someone to chase down debts. The creditors will certainly want as much reclaimed as possible.


You don't owe Land Of Leather for a sofa do you?

 

[Dolph]

The administrators can do what they like with it, persue it, sell it, or drop it, providing it's for goods/services already provided.

 

[POB]

The administrators can do what they like with it, persue it, sell it, or drop it, providing it's for goods/services already provided.

You are assuming the company is in administration, a copy can be dissolved normally.

 

[Dolph]

You are assuming the company is in administration, a copy can be dissolved normally.

Fair point, misread the original post.

AFAIK, A company that no longer exists can't persue debts, but they could have sold them on prior to dissolution to a third party, who could persue it.

 

[NickK]

Fair point, misread the original post.

AFAIK, A company that no longer exists can't persue debts, but they could have sold them on prior to dissolution to a third party, who could persue it.

If the liabilities are sold on as an asset to be reclaimed - ie someone pays their debts by purchasing your outstanding debt then that company can quite easily attempt to reclaim money from you, even if the original company has ceased trading and the government has closed it.

If the company has ceased trading and is closed owing money and your debt is with that company then your liability ends with that company.

My interpretation..

 

[aardvark]

the debts will be sold to someone else and then they will chase you for it - no such thing as a free lunch

 

[Surfer]

depends how much you owe - it might be written off if its not worth their(or whoever its sold to) time.

so you see debt is worth smt afterall

 

[RONDO]

Just wondering, after a company has been dissolved, does anyone know what happens to people who still owes it monies? Can a dissolved company still pursue debts that it's owe to it?

A dissolved company may not trade after being dissolved. They will normally have to apply for the company to be restored before persuing any debts etc. There are several companies who offer Company Restoration, check out this link http://test.formationsdirect.com/apply-for-restoration-of-company-to-register.aspx

 

[Phog]

Ask for a settlement figure, normally get a discount for paying off your debt all at once if they come still.

 

[Sparky__H]

and from what I remember they are still bound by the existing contract.

 

[Nix]

It'll probably get sold on.