Liquidators trying to take our house

[jillypompom]

In 2009 voluntary liquidators came in to our business (lets call it A) because the company we worked with for 15 years (lets call them B) restructured and we were not part of their plans. company A bought £15,000 worth of shares in company B 15 years ago when B had a turn over of £1,000 000.
The liquidators were told about these company assets but said "they will complicate things just leave them" Company B still has those shares. Today company B has a turnover of £58,000 000 and is one of the top 100 companies in the uk.

The liquidators have been taking us to court for posession of our home for a debt of £22,000. Both the liquidators named on the court papers ceased to be voluntary liquidators in 2010 and 2011 my argument is

1. They should have gone after the company assets which must be worth A LOT today. They did not do their job properly so they don't deserve £22,000. I have offered £50 per week for now but their solicitors said they would laugh in my face.
I went o court to ask for a variation order. The judge said £50 month. The next day the liquidators (who were no longer liquidators) applied for an overturn on the variation order and the same day asked for a forced sale.
These were heard two days apart by two judges the first who gave the variation order asked for more information. The second gave them £50 per week for 4 weeks and a date to go back to decide if he will give them our house.
2. How can people who are no longer liquidators still be giving instruction as liquidators ( the second judge would not even listen he said those people just want their money.
3. Their solicitors know full well that the people instructing them are no longer liquidators.
Phew! I think that is everything please could you tell me what you think as I have paid thousands to solicitors who have just asked me for information to give to the other side.
Kind regards
Jillypompom
I'm sorry I don't know what a tag is. If anyone finds this message somewhere it shouldn't be please send it to the right place Thank you x

[bluebottle]

Re: Liquidators trying to take our house

It sounds like the other side's solicitors have either mislead the court or attempted to mislead the court. That is serious. It is serious professional misconduct under the Solicitors' Code of Conduct. Who appointed the liquidators? Is the Office of the Official Receiver involved?

[jillypompom]

Re: Liquidators trying to take our house

They were voluntary receivers I think both directors were advised by their accountant.

Jilly

[jillypompom]

Re: Liquidators trying to take our house

Am I allowed to say the company the receivers worked for?

Jilly

[bluebottle]

Re: Liquidators trying to take our house

Usually, when a company goes into liquidation, it can either be Voluntary Liquidation, Creditors' Liquidation or Compulsory Liquidation. Voluntary Liquidation is usually instituted by the directors of the company. Creditors' Liquidation, as its name implies, is at the instigation of the company's creditors. Compulsory Liquidation is by way of court order and can be because the company owes tax or VAT, or the Director-General of the OFT has requested the High Court to close the company down because it is being used as a vehicle for fraud or it is in the public interest to close the company down.

If the liquidators knew of the existence of the shares and that they were assets of Company 'A', they should have sold them and obtained the best possible price. If the court was not made aware of this, it would, in my considered judgement, influence the decision of the judge as to whether the liquidators are entitled to take your home. It sounds to me like a case of Unjustifiable Enrichment on the part of the liquidators. You certainly need to speak to a legal professional about this as my gut-feeling says these liquidators and their solicitors have mislead the court.

[jillypompom]

Re: Liquidators trying to take our house

I feel a bit stupid because I am not sure if I should wait for an answer ??

Jilly

[jillypompom]

Re: Liquidators trying to take our house

Sorry I think I get it now x
Jilly

[jillypompom]

Re: Liquidators trying to take our house

Thank goodness
I thought I was the only person who could see what they were doing. I will have to try and find another solicitor but who do I trust. The judge just dismissed me like I had dared to question anything to do with the case. Thank you Thank you for giving me the confidence to keep on fighting.

I will let you know what happens if you don't mind.

Jilly

[bluebottle]

Re: Liquidators trying to take our house

That's fine. If you represented yourself in court - Litigant in Person (LIP) - some judges are very intolerant and ill-disposed towards them. You need to get a legal professional to challenge the judgement and what the liquidators and their legal representatives have been involved in. If the Corporate Insolvency Division of the Office of the Official Receiver is involved, they need to be informed and told what is going on as soon as possible. The reason I say this is because if there are any irregularities in the manner in which the company was wound-up or that lead to the company being wound-up, the Official Receiver has a duty to refer the matter to the Insolvency Service for investigation. I hope this provides you with some pointers and reasoning for querying what has happened.

[Nikolai]

Re: Liquidators trying to take our house

Don't know much about company insolvency law, but there appears to be some sharp practice going on here. How come they have a claim against your house in the first place? Was the house put up as security for something, or have these people got a money judgement against you and are trying to enforce it by getting a charging order/order for sale?
You do need some competent legal advice. Look for a solicitor who is an expert in the field of company/commercial law. You're unlikely to find such a person in a typical high street firm. You'll have to look at large city-centre firms to find someone with the right expertise to help you, and when you do, don't hesitate to explain the problems you've had with previous solicitors, who you feel have let you down. You may be able to find a solicitor who has qualified as a Licensed Insolvency Practitioner, the Law Society can give you details or even a list.
If you need to complain about a solicitor, it's the Solicitors Regulation Authority - have a look at their website. If you're complaining about the receivers, take a look at the website of the Insolvency Practitioners Association for guidance, as the IPA is only one of the authorising bodies. Do be aware that your priority is the court case - seek advice! Complaints against the other side's solicitors and the receivers will not influence the court proceedings.
Keep fighting and don't give up.

[bluebottle]

Re: Liquidators trying to take our house

In addition to Nikolai's excellent advice, whilst complaints against the other side's solicitors and the receivers may not influence any court proceedings, if it is found that they mislead or attempted to mislead the court, that will influence the court proceedings as it can be argued the judgement was perverse and should be set aside or quashed altogether.

[jillypompom]

Re: Liquidators trying to take our house

Hi
I have been to seek legal advice from a city centre solicitor. He said " I will have to find and agree a substantial payment plan for the £22,000 the liquidators (and him).
He said there was probably a perfectly valid reason for not going after the shares. As far as the Liquidators named on the court papers no longer holding office "They were on from the beginning and probably still have a duty to the court".

He thought it was a little draconian for the court to allow the forced sale of a house for £22,000. The liquidators said in todays market the house is worth £600,000 it is actually valued at 1.4.
Would you mind telling me what you think?

Jilly

[bluebottle]

Re: Liquidators trying to take our house

I still say the liquidators and their solicitors are engaged in Unjustifiable Enrichment.

[Nikolai]

Re: Liquidators trying to take our house

Too many "probablys" here for my liking. You're presumably paying this man to advise you so I find it surprising he hasn't contacted the liquidators or their solicitors to ask why they have not gone for the shares, but rather gone for sale of your house instead. If there is a perfectly valid reason for this you deserve to know what it is. Further he should know what the liquidators' position is, not be telling you they probably still have a duty to the court. Have they or haven't they? Your solicitor ought to be capable of advising you on this point.
What has happened to the shares? Have you had an account of the liquidation? I'm sorry but I don't know the full facts, so can't really comment on the advice you received to come up with a substantial payment plan for the £22,000.
I'm left with the feeling that you're getting a raw deal here. If you want to post more information I'll be happy to comment.

[jillypompom]

Re: Liquidators trying to take our house

Hi everyone
I found this paperwork regarding the shares. This relates to the shares the liquidators told us to forget about. Would you mind having a look for me. x

Jilly