# Bankruptcy in NI working in ROI



## stumpydee (13 Nov 2012)

Hi,

I am currently living and working in the ROI.  I was the director of a limited company in NI that ceased trading in Jan 2010.  A number of the creditors are now looking for personal judgements against me one has been successful as they showed an invoice to me personally instead of the limited company. I am not sure if its worth disputing this as at least one other creditor is saying that since the company has been struck off the register the director are now personally liable.

If i am declared bankrupt in NI will my current income in the ROI be affected? I have no assets and a fairly average salary in ROI.

Thanks


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## Time (13 Nov 2012)

> at least one other creditor is saying that since the company has been struck off the register the director are now personally liable.


Rubbish. That is a annoyed creditor trying to trick you into accepting liability for a company debt.


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## T McGibney (13 Nov 2012)

Time said:


> Rubbish. That is a annoyed creditor trying to trick you into accepting liability for a company debt.



I don't think its rubbish. The first consequence of an involuntary company strikeoff in the Republic is that the directors immediately become personally liable for any remaining liabilities, ie the benefits of limited liability are lost.

That said, the OP is presumably talking about a NI company so the rules may be different north of the border.


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## Time (13 Nov 2012)

It would depend on why the company was struck off. 

The benefit of LI is lost going forward if the directors etc continue trading.


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## stumpydee (14 Nov 2012)

*Struck Off*

Hi,

The company (NI) was struck off because no annual return was filed.  This was advised by my accountant as the company had ceased trading the previous year.

I am just a bit confused now then about what to do.  The creditor who has a judgement against me personally dropped a case last year due to evidence i provided that the company had ceased trading and was no longer occupying the premises (rates bill) and i was not personally liable as it was a limited company. When the rates bill came around again this year they simply sent the same Invoice to court and i contacted them about the case being struck out last year due to my evidence and they didn't respond and carried on with the case (I wasn't in the country to attend).

If the liabilities of the company are not personal owed by me then my own personal debt is not massive and i would not really consider bankruptcy.  If i say tried to go down the IVA route would the confusion around the company debt be cleared up and finalised?

Thanks for the replies.


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## Jim Stafford (7 Jan 2013)

You can be held personally liable for a company's debts in the UK if you engaged in wrongful trading (fraudulent/reckless trading in the Republic) or if the company incurred the debt after it was struck off.

Jim Stafford


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