Dissolved Company - liabilities of Directors

Yes that is my issue. They were not in a position to voluntarily strike the company off due to our litigation (and possibly other debts - don't know). They did it anyway, which means they knowlingly swore a false affidavit. I'm sure no judge would be impressed. However, I thought we would have to bring a circuit court application to put the company back on the register, before we could get judgement against it. My barrister tells me that we can proceed with the motion against the company without doing so ...I'm not sure how we can do that, given that the company doesn't exist at the moment!! Will have to pull out the books on this one!
 
Bond judge would have the power but I think the application to put a company back on the register is heard by way of motion in the circuit court. Our current motion is just a standard motion for judgement in default so I can't imagine judge can put company back on register based just on that motion ..
 
S310 and S311(8) of the CA 1963 is of relevance here Kate and I believe an application can and should be made to the HC to have the company reinstated.

I dont think a motion in default is sufficient.
 
DW1 said:
Sort of related question, apologies if this should be elsewhere on the forum.

Can a company just decide to notify that it is ceasing trading but, using lack of funds as an excuse, not appoint a liquidator so leaving all creditors high and dry?

I hope not....
Click to expand...

Afraid so! To summarise broadly, if a company is insolvent, and has no prospect of recovery, the directors are obliged to cease trading. However if there are insufficient funds to appoint a liquidator (insolvent liquidations are expensive) what are they to do?

The ODCE and the CRO don't like this process, but it is widely used, and seems to result in a sort of limbo for all involved, but as I said above, what are they to do? They must do the right thing and cease trading....!
 
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