Liquidators want £25,000 or house.

[jillypompom]

My partner had a company which went into liquidation (with very little debt). The company they worked with pulled out after 15 years so he had little choice. Also his business partner had taken £125,000 out without his knowledge (we found this out recently).
The liquidators were told about shares that he had bought 15 years ago in the company which pulled out. At the time the company had a turnover of £1000 000 TODAY THAT COMPANY HAS A £52.6 000 000 TURNOVER. If the liquidators had got these assets surely there would have been no debt. The company that pulled out still has the shares but will not talk about them.
Could anyone please advise me on what to do as I am so out of my depth. I have recently paid a Solicitor £3000 and they are still writing to the Liquidators and getting nowhere.

[teaboy2]

Re: Liquidators want £25,000 or house.

I am assuming it is a limited company - So that being the case, why are the liquidators after payment from your other halve, did he act as a guarantor for any credit taken accounts with supplier or loans?

[bluebottle]

Re: Liquidators want £25,000 or house.

What are liquidators doing sticking their noses in and who appointed them? More to the point, is the Office of the Official Receiver (Corporate Division) and/or the Insolvency Service involved?

[jillypompom]

Re: Liquidators want £25,000 or house.

Hi
Thank you for replying. I will look at the paperwork and see what they say the money payable.
I will write soon

jilly

[bluebottle]

Re: Liquidators want £25,000 or house.

Have the liquidators been appointed by a court or a bank, or are they from the Office of the Official Receiver or the Insolvency Service? From what I read in your initial post, there are irregularities that the liquidators may or may not be able to deal with, or which may mean they have to withdraw or face being investigated themselves.

Once we know the full facts, it should be easier to help you.