Property owned by Ltd (from the angle of debt recovery)

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DS23 replied

15 September 2009, 16:26
Originally posted by Lumiere View Post

Possible new contract, good money, but the client hasn't got the best reputation when it comes to paying invoices and their financial profile is not looking good at the moment.

Considering whether it is worth the risk, and what are my chances of recovering some money in the worst case scenario.

how much work is it? actually, don't bother - its not.
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Mailman_1 replied

15 September 2009, 16:17
Speak to a lawyer.
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Lumiere replied

15 September 2009, 14:35
Originally posted by northernladuk View Post

advantages of doing this.

doing what !?

see above
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Lumiere replied

15 September 2009, 14:33
Originally posted by Bunk View Post

what are you up to?

Possible new contract, good money, but the client hasn't got the best reputation when it comes to paying invoices and their financial profile is not looking good at the moment.

Considering whether it is worth the risk, and what are my chances of recovering some money in the worst case scenario.
Leave a comment:
northernladuk replied

15 September 2009, 14:25
Originally posted by Bunk View Post

Flipping heck, what are you up to?

I would definitely be looking for better advice than you'll get here. I'm sure there are accountants that specialise in this type of stuff although I don't know how you'd go about finding them.

LOL I thought exactly the same thing. The penalties for getting this type of thing wrong or appearing to deliberately push it under the radar could far out weigh the advantages of doing this.
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Bunk replied

15 September 2009, 14:00
Flipping heck, what are you up to?

I would definitely be looking for better advice than you'll get here. I'm sure there are accountants that specialise in this type of stuff although I don't know how you'd go about finding them.
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Lumiere replied

15 September 2009, 13:38
Originally posted by Mailman_1 View Post

I suppose you could ..

Assume I am a creditor in this situation, how hard is it for the other party to remove the asset (transfer = selling to director, etc.) from its books and hide this fact from me / legal representatives?
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Mailman_1 replied

15 September 2009, 13:29
You cant "transfer" the property to a director. The director needs to purchase the property from the company which will incur stamp duty etc. I suppose you could sell the property cheaply in the current climate though and take a loss on the company books.
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Lumiere started a topic Property owned by Ltd (from the angle of debt recovery)

15 September 2009, 13:04
Property owned by Ltd (from the angle of debt recovery)

If a property was bought by a limited company and then the ownership transferred to an individual (e.g. director of the company), would it be recorded in the Company House's history ?

How hard is that to do if there are legal proceedings or a court order against the company ?

p.s. not my company, the client's company !

Last edited by Lumiere; 15 September 2009, 14:37.
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