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Insolvent company dissolved – is that the end?


10 December 2018:  As you would expect, HMRC present more compulsory winding-up petitions against insolvent companies in England and Wales than any other creditor.

In recent months BRI have noticed a sharp increase in winding-up petitions being presented by HMRC against dissolved companies with the intention of them being restored to the register and then placed into compulsory liquidation.

You may ask why and what is the point given dissolution. Our view is that HMRC will generally be owed significant sums and would like a company’s financial affairs and those in control of the company investigated by either the Official Receiver or a liquidator of HMRC’s choosing. This may be a result of the Governments corporate frame work to “crack down on directors of insolvent companies”.

Should you be a director of a company that has liabilities and are under mounting creditor pressure then please contact any one of the BRI management team to discuss your options, as making an application to strike off a company may not be the end of the matter.