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Gary.st
Starting Member
1 Posts |
 Posted - 19 August 2012 : 15:36:09
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If a make an individual bankcrupt, who is also the director of a company, (only director I believe) can the court seize assets of the company? The person in question has moved his assets (cars) into the limited company to protect from bailiffs, I now have a high court writ against him, which has failed to get my money back (£6000)
The company that he now owns buys and sells high value cars, but as an individual he has "nothing" as he lives in rented houses. All the cars he has for sale at any one time probably exceeds £100,000.
Can the official receiver go back in time to see that he has put his money and assets into this limited company, that was formed after I got judgement on him. |
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debtinfo
forum expert
2826 Posts |
Posted - 19 August 2012 : 15:40:53
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| Yes they can but only to a certain extent, so if they have been part of the company for a long time then you lose your chance but if they have just done it recently then the OR can go back and cancel the transaction. This is called an antecedent transaction and if you want to look it up it is sections 339-342 if the Insolvency Act 1986 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 19 August 2012 : 15:44:37
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debtinfo - where would the forum be without you?
I don't know an awful lot but know that you will come on here at some point with the right answer. |
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debtinfo
forum expert
2826 Posts |
Posted - 19 August 2012 : 16:15:51
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| Thanks Niobe, I try my best, always good to have as many people posting as well though, you never know when someone will come on in a panic and need a calming answer |
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Can assets be seized if bankrupt has moved these assets into a limited,company ?
