I am planning on going BR in the next couple of months but just getting a few things in order first. I stepped down as a Partner of a financial services company in November and I am likely to have my contract terminated by the Network that the Partnership comes under due to my debt problem.(I am self employed with a friend of mine)but going through form 6.28, it asks about involvement in a managerial capacity in the last 5 years. I am being replaced by another Partner and my name is being taken off the bank account etc. The account is in overdraft but that debt is being taken on by the existing and new Partner. Having read something on here about Partnerships, if I am no longer authorised and have no dealings with the Partnership, does it still get closed down because of my BR? The company has no assets.
No the partnership will not be dissolved if you are not a partner at the date of the bankruptcy. The OR will of course make sure that you came away with a fair share of the value of the company (which you say is zero) and so will make some enquiries
Thanks Debtinfo for that. (I've realised I seem to have this thread on here and the same thread in the 250 posts section as well which is why I didn't see your reply and say thanks earlier)
planning on going BR in the next couple of months
Posted - 04 January 2010 : 16:43:30
