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Can a company still trade after liquidation

  • 23-10-2010 2:11pm
    #1
    onedaylikethis
    Registered Users, Registered Users 2 Posts: 27 ✭


    Hi. Can a company still trade and carry on as normal after going into liquidation. I have checked the cro website and it says the company is in liquidation not receivership. As far as i can see the company has not stopped trading at all but when the liquidator was contacted they said the company was gone with no assets. The company vehicles still pass me most days with the same drivers.


Comments

  • #2
    Delancey
    Closed Accounts Posts: 5,451 ✭✭✭Delancey


    When a company is liquidated then it's history but that is not to say the assets ( premises , vehicles, stock ,etc ) have not been purchased by another company who continue to trade on.
    The new company may even have the same directors as the old one but that's a whole new can of worms.


  • #3
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    A company in liquidation can trade. The liquidator exercises the powers of the board of directors. A company cannot trade after dissolution, which ends its existence as a legal personality.


  • #4
    onedaylikethis
    Registered Users, Registered Users 2 Posts: 27 ✭onedaylikethis


    Thanks you both for your help. I should know in the next few weeks what the situation is. When we receive the order from the court and go to execute judgement we may get some proper answers then as to what the situation is.


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