Hi all,
Bit of a long one so bare with me
We had a small ltd company that has gone into liquidation
before the business failed we had 4 vans on a chattels morgage.
We managed to clear the total amount for 2 of the vans.
Approx 4 months later we arrived at work to find that the other 2 had been repossessed out of our yard. ( rented property)
We were pretty ignorant about the law then, learning a bit more now
In each van was approx £6k worth of equipment.
This equipment has disapeared and the finance company doesnt know what has happened to it.
By them taking this equipment it left us unable to undertake any work any therefore assisted with the closure of the company.
My questions are :
1) As we had paid off over half of the agreement , were they allowed to repossess without a court order ?
2) I have been told that they were not allowed to take work tools, as they have taken these tools can we claim for the value of them?
3) as we could not undertake any work with out these tools , can we claim for lost earnings?
4) are they allowed to repossess these vans out of our yard?
Thanks for reading this far , any help would be greatfully received
Bit of a long one so bare with me
We had a small ltd company that has gone into liquidation
before the business failed we had 4 vans on a chattels morgage.
We managed to clear the total amount for 2 of the vans.
Approx 4 months later we arrived at work to find that the other 2 had been repossessed out of our yard. ( rented property)
We were pretty ignorant about the law then, learning a bit more now
In each van was approx £6k worth of equipment.
This equipment has disapeared and the finance company doesnt know what has happened to it.
By them taking this equipment it left us unable to undertake any work any therefore assisted with the closure of the company.
My questions are :
1) As we had paid off over half of the agreement , were they allowed to repossess without a court order ?
2) I have been told that they were not allowed to take work tools, as they have taken these tools can we claim for the value of them?
3) as we could not undertake any work with out these tools , can we claim for lost earnings?
4) are they allowed to repossess these vans out of our yard?
Thanks for reading this far , any help would be greatfully received
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