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Hi there , I’m looking for some advice . In 2009 my business partner wanted out so we agreed a share transfer whereby I purchased his share of the company for £400,000 over the period of a few years along with substituting some payments for property assets. Ten years later my former business partner went bankrupt instead of paying the income tax (£100,000 owed on this sale. The insolvency service contacted me for details of the sale which I provided to them , later on the trustees in charge asked for some more details which I provided though couldn’t give them exact details of the accounts the monies had gone to as most of the payments were made by cheque, Now it seems the trustees have passed the case to Panonne who have questioned whether the payments to my business partner were ever made so have threatened me with recovery for the £280,000 I have given them the cheque numbers etc but they have said that this needs to be backed up by documentary evidence, As this was so long ago I don’t have any so don’t understand what I’m expected to do . I have contacted a solicitor but thought I would seek advise from those in the know . Thanks in advance.
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Hi TC2021
A long shot, but send your bank / previous bank, accountants (if used) a SAR, they have 30 days to provide you with all the data they hold. They should hold at least 6 years data, but you never know they might have data from that period.
https://legalbeagles.info/library/gu...ccess-request/
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The banks have said they only hold records up to seven years . My former business partner has confirmed that he has received the funds so surely they would have to prove that the payments were never made and not vice versaComment
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