My boyfriend was in a 70/30 partnership, until his partner decided he wanted out. The ex partner set up in competition as a sole trader, after stealing the customer database. This left my boyfriend with huge debts and he was consequently made bankrupt.
I set up a Limited Company with the secretary of the partnership, and have one employee. The ex partner has since told all my existing customers that I am no longer trading, and I have tried to mitigate this by sending letters to the contrary.
My boyfriend has now received a County Court Judgement at my address (from which my company is also trading), even though he doesn’t live with me! It seems it is a creditor who is after the ex-partner, who I suspect has said that my boyfriend is living with me. He has passed my address on and seems to be trying to discredit me – I suspect because he doesn’t like the competition.
There are a few things that concern me: 1) I thought that once a person was made bankrupt, any creditors should go through the official receiver, and the creditors should be pursuing the ex-partner for his percentage of the debt 2) What impact would it have on my credit rating 3) What impact will it have on me as a company director?
When your boyfriend went bankrupt all his debts went into the estate. Even if the partnership was officially still going it would have been dissolved at this point. All partnership debts and assets revert to the solvent partner, personal debts stay in the banktuptcy estate.
Your credit rating should be unaffected as it is based on the individual not the address.
It has no impact on you as a company director as you were not involved in the partnership and are not personally bankrupt.
There are a few things that concern me
Posted - 24 July 2008 : 00:48:51
