I am director of a small business and considering bankruptcy. Due to the recesion i am its only employee. Will my business be allowed to trade if i can find another director. Can the receiver come in to the business and take its belongings.
I beleive there is no reason why you can't do so, but it might get tricky over the transfer of shares, as I think the new director would need to own the company, or it might be liquidated to obtain the value of your shares in it. I would give businessdebtline a ring and get their view. In my case it was easier to just to go self employed after bankruptcy as the Ltd was just tax saving vehicle to be honest. Cheers, Jonny
I am director of a small business
Posted - 02 July 2009 : 22:11:18
