Liquidators and the High Court

PatsyStone

My brother has go to before the High Court this month over failing to pay the Liquidator of a company. There are other disputes in the directorship - 2 women. I was working with him for two years. We had a breakdown of trust between the other directors, who we found out were going to steal a sum of cash - 10 grand. My brother was getting vague responses about w then that money came through. When he did he first paid his ex employees what they owed. He had the rest in trust and email all directors so they knew where the money was being held'

So now the liquidator wants the remainder of the money. But he has done nothing. One stock take in Dublin, rejected ours because computers get it wrong sometimes(!) He was sent incriminating emails about plans to defraud my brother and "nail him to the liquidator" and the liquidator brushed it off him. But because my brother had the money he's after him.

I don't know much of the legal mumbo jumbo but I want to help him. He has contributed vast sums of his savings to keep the company afloat.
So I just want to know has anyone been in that circumstance before or what you would think the outcome might be (I'm pessimistic).

234

PatsyStone wrote: »

My brother has go to before the High Court this month over failing to pay the Liquidator of a company. There are other disputes in the directorship - 2 women. I was working with him for two years. We had a breakdown of trust between the other directors, who we found out were going to steal a sum of cash - 10 grand. My brother was getting vague responses about w then that money came through. When he did he first paid his ex employees what they owed. He had the rest in trust and email all directors so they knew where the money was being held'

So now the liquidator wants the remainder of the money. But he has done nothing. One stock take in Dublin, rejected ours because computers get it wrong sometimes(!) He was sent incriminating emails about plans to defraud my brother and "nail him to the liquidator" and the liquidator brushed it off him. But because my brother had the money he's after him.

I don't know much of the legal mumbo jumbo but I want to help him. He has contributed vast sums of his savings to keep the company afloat.
So I just want to know has anyone been in that circumstance before or what you would think the outcome might be (I'm pessimistic).

Your brother needs to see a solicitor if he hasn't already. Generally, liquidators fees are at the top of the priority ranking so he's going to get paid one way or the other.

PatsyStone

I think he is meeting with a solicitor today.

Bepolite

PatsyStone wrote: »

I think he is meeting with a solicitor today.

If you want to help him, I'd let him work away with the solicitor and not post his business on a public website no matter how anonymous you may think it is.

I'd encourage him in his future ventures to take much more professional advice, companies are there to protect you (to a degree) from failure. Pumping vast sums of personal money into them without proper advice is not good business.

The very best of luck.