We are preparing my husbands SOA and are getting all his paperwork sorted in readiness for 23rd January.
One of his suppliers has a clause in their contract that says they hold the title to the goods until they are paid for. We no longer have the goods, they were sold through the business that went under and so we'd like to know where he stands in this case? Does he just include it in the debts as normal or does it have to be listed seperately?
working towards the first day of the rest of our lives
My guess is that even though they may legally hold title (which is different from them saying they hold title) any losses they accrue will form part of your bankuptcy. You should highlight this and anything similar in the petition. Obviously, being a business bankruptcy things are going to be more complicated, though. Expert advice will be needed. I am not an expert unfortunately.
Stock with retention title
Posted - 17 December 2008 : 13:18:02
