Wow – what a sorry sight…..
Speed is of the essence !
One of the things we do at Lane & Co Solicitors is to keep an eye on the status of debtor companies who owe our Clients money.
Last week out of 17 companies we were looking at, 6 of them had serious problems – that is a huge 35%.
Companies House website gives us a ‘heads up’ on the status of a company and whether it is up to date with the filing of its accounts.
We may be able to get ahead of the game and file a chobjection (Companies House Objection) to try to delay the “Active proposal to strike off” to give us a better chance to recover our Clients money.
Unfortunately when a Company has been Dissolved or entered into Liquidation our Client just becomes one on a list of creditors and it is much less likely recovery of a substantial sum will occur.
It is a sign of the times and a dreadful situation, however we must remember:-
“Today’s creditors may become tomorrow’s debtors”
– Act now!!
