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Biz Asset Injunction

  • 13-11-2015 11:37am
    #1
    MintyMagnum
    Registered Users, Registered Users 2 Posts: 480 ✭✭


    Background business closed, equipment still on premises, LL agreed to allow sale of equip, new tenant agreed to buy, now LL seizing equip in lieu of rent. 2nd hand value round 10k. Overdraught 5k & some other bills. Solicitor suggested injunction but these costly no? Possible LL counter sue for loss of rent? What would u do?


Comments

  • #2
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    You need a solicitor - s/he is obliged to give you an indication of cost before finalising instructions. Go ask.


  • #3
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi

    I assume you are a director of this company.

    The first point is as pedrobar suggests you need a solicitor.

    Secondly, as a director of the company you have potentially allowed a proportion of its assets to be lost/put beyond use. This has potential consequences for you and means that it is far too risky to allow this company to go into liquidation.

    So your only option to make sure everyone is paid up and the company having no assets or liabilities can go for a voluntary strike off. By what you are saying the liabilities of the company are not huge and if you need to put money in to pay off the creditors it can be done.

    Otherwise you take out your injunction and keep the company alive until the whole thing is properly resolved.

    dbran


  • #4
    power101
    Registered Users, Registered Users 2 Posts: 300 ✭✭power101


    Is this a limited company or are you a sole trader?

    How much is owed in rent? I presume you signed a lease and are breaking it early due to the business issues?


  • #5
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    I would be with the landlord in this situation, he has locked you out and has an effective lien on the goods, pay him what he is owed and take your stuff, seems fair enough to me!


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