Client Gone Belly up Can I Keep the Car?

[pmeswani]

thanks for the advice

If you are able to retain the car, just remember that it will become the asset of your Ltd company, and if you write it off, if it gets stolen, etc. your company could effectively sue you for any damages. And the creditors / administrators for your ex-client will be entitled to sue your commpany for damages. So consider your choices carefully.

[TheBigD]

Slightly different situation from yours, but I was made redundent as a permie, whilst being owed 6 weeks salary and a months pension contributions.

I had some company assets (laptop, phone etc), as I worked from home most of the time, I got a phone call asking me to hand them over. I said fine, but you'll have to come and collect them from me as I'm not wasting money on petrol to bring them back to you when you already owe me a fair amount.

They didn't put up a fight...

They never came to collect them, so I've still got them.

[NickNick]

I bet they thought it was s fair swap, 6 weeks wages and a months pension contribs for a laptop and a Nokia 6210.

[TheBigD]

I bet they thought it was s fair swap, 6 weeks wages and a months pension contribs for a laptop and a Nokia 6210.

Yes, they wre in administration and so weren't going to pay anyone's wages anyway (had to put a claim in for unpaid work from the work and pensions people), but, it was beter than nothing I suppose...

[nevergoingtopay]

ok the Leins route sounds interesting, how complicated is it and what does it involve, if it means a load of legal rangling thats fine i have legal insurance and i'd just like to keep the car as long as possible so I don;t have to buy another one!

At the end of the day i guess its a fight for the assets..

Thanks for the advice, and your right it is very annoying but fortunatly It was a decent rate and I have some put by. Its alot worse for their 700 or so employees quite a few I worked with closely - yesterday was a strange old day and one I wouldn't like to repeat too often.

My brother worked for a US company that went bust in late 2007, he kept his laptop and car. No one asked for them and he was the chief designer in the UK. Once the company was completly wound up he applied for a new V5 and has used the car ever since.

They did owe him a months money, holiday and also lost pension....etc

So keep it as long as you can, you have been authorise to use the car so use it until someone asks for it back.

You may get a result or they might ask for it back.

Good Luck!