You are here: Home > Message Board > General Talk > Small claims court Result
December 6 2022 11.32pm

Small claims court Result

Previous Topic | Next Topic


Page 2 of 2 << First< 1 2

Play our World Cup 2022 Prediction League!

World Cup Prediction League 2022

Sponsor a forum or Advertise on the HOL!


 

View Midlands Eagle's Profile Midlands Eagle Flag 24 Nov 22 2.18pm Send a Private Message to Midlands Eagle Add Midlands Eagle as a friend

Originally posted by ASCPFC

To get around it the previous owner is not even a director of the new company. A front man is - the previous owner then sub contracts him/herself.

it's still illegal and the previous owner could still "get done"

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View palace_in_frogland's Profile palace_in_frogland Flag In a broken dream 24 Nov 22 3.38pm Send a Private Message to palace_in_frogland Add palace_in_frogland as a friend

Originally posted by Midlands Eagle

it's still illegal and the previous owner could still "get done"

If it’s a new company, with a new board and a new article of incorporation, and they then hire the former company owner as an employee, where’s the illegality?

Immoral, for sure, but illegal?

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View Midlands Eagle's Profile Midlands Eagle Flag 24 Nov 22 4.24pm Send a Private Message to Midlands Eagle Add Midlands Eagle as a friend

Originally posted by palace_in_frogland

If it’s a new company, with a new board and a new article of incorporation, and they then hire the former company owner as an employee, where’s the illegality?

Immoral, for sure, but illegal?

Directors have a fiduciary duty to creditors and assets must only ever be sold at or above their true value irrespective of whom they are sold to and selling assets for a nominal value is effectively cheating creditors

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View Spiderman's Profile Spiderman Flag Horsham 24 Nov 22 5.03pm Send a Private Message to Spiderman Add Spiderman as a friend

Are you CP in disguise?

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View palace_in_frogland's Profile palace_in_frogland Flag In a broken dream 25 Nov 22 6.56pm Send a Private Message to palace_in_frogland Add palace_in_frogland as a friend

Originally posted by Midlands Eagle

Directors have a fiduciary duty to creditors and assets must only ever be sold at or above their true value irrespective of whom they are sold to and selling assets for a nominal value is effectively cheating creditors

You’re right, of course about the undervaluing of the assets; I was thinking of the legality of employment. I should have read the first post properly.

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View The groover's Profile The groover Flag Danbury 25 Nov 22 9.05pm Send a Private Message to The groover Add The groover as a friend

Originally posted by Midlands Eagle

That's illegal and is something that creditors of the old company watch out for. Assets must be sold at their true value

Well it happened to me. A one man band selling Bi-Folds. Sold the remaining assets to his 'new company'.

It would have been up to me to take him to court again.

I got him because he was advertising himself as an approved installer for his supplier, which he wasn't.

He was also advertising 2 weeks turn around for bi-folds just before he declare the company bankrupt. Thus taking lots of peoples money and then disappearing.

I found out his new company name, contacted his supplier and told them the above. The MD of his supplier said 'What do you want me to do? He paid us.'

I said as I've informed you of his criminal activity you are culpable and I'm sure that you would not wish to be associated with him. So I suggest you stop supplying him until he fits my Bi-folds.

They were fitted two weeks later and I paid half of what I should have. I told him to take me to court for the rest. Never heard from him again!!! He told me he would install them himself as he was not happy. I told him I was looking forward to it. He was a no show!

I would post the company names but know that the site would not want me too.

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply
View cryrst's Profile cryrst Flag The garden of England 26 Nov 22 6.30am Send a Private Message to cryrst Add cryrst as a friend

Originally posted by The groover

Well it happened to me. A one man band selling Bi-Folds. Sold the remaining assets to his 'new company'.

It would have been up to me to take him to court again.

I got him because he was advertising himself as an approved installer for his supplier, which he wasn't.

He was also advertising 2 weeks turn around for bi-folds just before he declare the company bankrupt. Thus taking lots of peoples money and then disappearing.

I found out his new company name, contacted his supplier and told them the above. The MD of his supplier said 'What do you want me to do? He paid us.'

I said as I've informed you of his criminal activity you are culpable and I'm sure that you would not wish to be associated with him. So I suggest you stop supplying him until he fits my Bi-folds.

They were fitted two weeks later and I paid half of what I should have. I told him to take me to court for the rest. Never heard from him again!!! He told me he would install them himself as he was not happy. I told him I was looking forward to it. He was a no show!

I would post the company names but know that the site would not want me too.

As trigger would say “ half price eh, what’s that company again”

 

Alert Alert a moderator to this post Edit this post Quote this post in a reply

 

Page 2 of 2 << First< 1 2

Previous Topic | Next Topic

You are here: Home > Message Board > General Talk > Small claims court Result