Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever
Short particulars
2, pages lane, muswell hill, london t/no ngl 63723.
That's been on there for years, as Skewy says probably discharged and no longer valid.
The only way it will link back to the main company (BDO) is if assets have been transferred at zero or under value or if they have deliberately run up debts on this company (Enterprises) which have benefited the parent company (BDO).
The reason they will want someone to call in the debt is it will cost Enterprises nothing to get closed down as the creditor will pay for the initial court costs and then bankruptcy and insolvency costs will be paid out of Enterprises assets or if there are no assets it will be closed down and struck off. BDO are only liable for the initial share investment, i.e. a couple of quid.
In short unless they've done anything dodgy (which at the moment looks unlikely) it won't affect the BDO main company, except their already rock bottom reputation.
Yeah, bdo Ltd will be fine.
Its the directors I would be more fearful for........
The only real action is to be struck off and that's IF they have acted unlawfully. Doubt there will be any recourse beyond that. For Des that means he signs his shares in other companies over to the Mrs. It won't come to that though.
Of course the other train of thought is that Enterprises was beyond saving with massive debts and no money and he has done the correct thing in allowing it to go under and concentrating on getting BDO in the black. We don't know the full circumstances but he may have made the only sensible business decision.
I disagree. If Des has gone into this tournament knowing it cant be afforded and that Enterprises will be insolvent afterwards then hes in big trouble.
The parent company is fine and needs no 'work' to keep it safe
Amount secured
All monies due or to become due from the company to the chargee on any account whatsoever
Short particulars
2, pages lane, muswell hill, london t/no ngl 63723.
That's been on there for years, as Skewy says probably discharged and no longer valid.
The only way it will link back to the main company (BDO) is if assets have been transferred at zero or under value or if they have deliberately run up debts on this company (Enterprises) which have benefited the parent company (BDO).
The reason they will want someone to call in the debt is it will cost Enterprises nothing to get closed down as the creditor will pay for the initial court costs and then bankruptcy and insolvency costs will be paid out of Enterprises assets or if there are no assets it will be closed down and struck off. BDO are only liable for the initial share investment, i.e. a couple of quid.
In short unless they've done anything dodgy (which at the moment looks unlikely) it won't affect the BDO main company, except their already rock bottom reputation.
Yeah, bdo Ltd will be fine.
Its the directors I would be more fearful for........
The only real action is to be struck off and that's IF they have acted unlawfully. Doubt there will be any recourse beyond that. For Des that means he signs his shares in other companies over to the Mrs. It won't come to that though.
Of course the other train of thought is that Enterprises was beyond saving with massive debts and no money and he has done the correct thing in allowing it to go under and concentrating on getting BDO in the black. We don't know the full circumstances but he may have made the only sensible business decision.
I disagree. If Des has gone into this tournament knowing it cant be afforded and that Enterprises will be insolvent afterwards then hes in big trouble.
The parent company is fine and needs no 'work' to keep it safe
You're assuming that this tournament is being run under Enterprises and not BDO
At least cyprus and torremolinos are still going, will still find the regular bunch of people who take just under £10k in cash in their luggage so the hotels can be paid in cash!
Anybody who thinks they dont make money from them is wrong and its all done in cash
Any company worth its salt before doing business with Enterprises would of used due diligence on their financial position before exposing themself to a potential massive loss and thus would of ensured that personal guarantees were in place on any debts for services or goods rendered.
There are also several laws in place to ensure that 'Long Firming' isn't as easy as people assume Des would be doing.
On paper this looks OK but a big issue is where is the IP held. Hopefully they have the right paperwork in place because if the IP ends up
with the administrator then might have issues operating BDO Ltd. Also how clean are the operating expenses between the two companies
as any decent administrator will have that at the top of their list for recovery.
