How does one dissolve/windup an insolvent Limited Liability Company that has virtually no assets?
There is 5k owing to Revenue (PRSI & Employee tax).
And possibly 20k plus in legal fees (owed to a Government Department).
And possibly another 1k elsewhere.
There are no personal guarantees.
Most equipment was leased and is being returned to the owners.
There are virtually no assets (less than €500 in office furniture) so there is absolutely no money to pay a liquidator.
I heard that simply not submitting audited accounts and letting the automatic strike-off process proceed was not sufficient because money is owing.
What can be done? The company accountant hasn't got a clue.
There is 5k owing to Revenue (PRSI & Employee tax).
And possibly 20k plus in legal fees (owed to a Government Department).
And possibly another 1k elsewhere.
There are no personal guarantees.
Most equipment was leased and is being returned to the owners.
There are virtually no assets (less than €500 in office furniture) so there is absolutely no money to pay a liquidator.
I heard that simply not submitting audited accounts and letting the automatic strike-off process proceed was not sufficient because money is owing.
What can be done? The company accountant hasn't got a clue.