Highlights: Claim: Bank – Personal Guarantee limited to £50,000 plus interest Security: Second Charge on family home Settlement: £36,553 lump sum Background: The Limited company was placed into Creditors Voluntary Liquidation in early 2014.  Personal guarantees were provided by Mr & Mrs ABC in respect of the indebtedness of the company (limited to £50,000).  Demand was made against the guarantors by the Bank in respect
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I was pleased to be representing PGUK at the R3 London and South East Regional Meeting on the 28th April. The venue for the meeting was Farrer & Co, Lincolns Inn Fields, London. The meeting was hosted by Nick O’Reilly – Chairman R3 London and South East and the speakers included Peter Walton from the University of Wolverhampton and Graham Rumney the CEO of R3. Starting
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Highlights: Claim: £111,909 Type: Overdrawn directors loan account Settlement: £55,200 payable within six months Background: The company was the subject of a winding up petition presented by HMRC mid 2013. Subsequently, an Insolvency Practitioner was appointed Liquidator of the Company. The last filed accounts were prepared to year end 2011.  Draft accounts had been prepared for year end 2012, but these were never finalised or
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Highlights: Claim: £50,000 Type: Overdrawn directors loan account Settlement: £45,000 payable over 18 month Background: The company was the subject of a winding up petition presented by HMRC.  Subsequently, an Insolvency Practitioner was appointed Liquidator of the Company. The last filed accounts had no overdrawn loan account position.  However, the Liquidator’s review of the Company’s affairs post year identified  payments to the director of some
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