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Money transfer for an MVL

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    #11
    Money transfer

    In all liquidation cases, the liquidator requires an estate account, so that assets of the company can be realised.

    We at SFP recommend that the company’s bank balance is transferred to this account prior to the liquidation in order for them to undertake an initial distribution of 75/80% to shareholders the next practical day after liquidation.

    If the client feels uncomfortable with doing so, they can leave the company’s bank balance in its existing account. Once the liquidator is appointed, we can then write directly to the bank to request the funds.

    This would, of course mean that the initial distribution to shareholders would not be able to completed the day after liquidation and could only be completed once the funds have been received from the company’s bankers, which can sometimes take a couple of weeks.

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      #12
      Originally posted by gremlinsky View Post
      I've tried to do everything I could to check them out.
      The set up a liquidation account for me and I transferred £5 into it and rang them to check it was there and to send me a screenshot from their side.
      The lady I've been speaking to is on LinkedIn and the job title all ties up.

      I just can't help being cautious as if I initiate the transfer then the liability is on me.

      Anyhoo - the money has gone to SFP now so I'll just have to keep my fingers crossed....
      How much money is involved in this MVL?

      For service and cost balance Maslins seems the obvious choice to me. I've only heard good things.

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