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How to strike out company accredetation

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Striking off a company can be an alternative to placing the company into formal insolvency when there are simply no assets in the company to fund a liquidation or the directors are unwilling or are unable to personally meet the costs of a liquidation. A Strike Off Application is not always a applicable and therefore it is always best to seek professional advice from a licensed insolvency practitioner to discuss all of the options available to the company to see if a Strike Off Application is the best course available to the directors. A Strike Off Application is not a formal insolvency process under the Insolvency Act as it is in fact a Companies House process and therefore it will never be as quick and as efficient as a formal liquidation. There are certain restrictions regarding when a company can be struck off which are basically it has not traded or changed its name in the last 3 months. Provided that the company meets all of the qualifying criteria the first step to apply for a s

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How do I find out who objected to strike off?

The first step in how to find out who objected to the strike off is simple. You can contact Companies House directly and they will be able to tell you the nature of the objection and who made it.

What is the meaning of strike off status of a company?

What does the strike off of a company mean? Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It is more like a Closure of the Company and the Company will not be in existence after being Struck Off and cannot perform any operation thereafter.

What happens to directors when a company is liquidated?

If you were a director of a company in compulsory liquidation or creditors voluntary liquidation, youll be banned for 5 years from forming, managing or promoting any business with the same or similar name to your liquidated company. This includes the companys registered name and any trading names (if it had any).

Are directors liable in liquidation?

If the Court decides that a company was traded while insolvent, the Directors can be held personally liable for company debts. There is no financial limit on how much a Director can be held liable for, and they may need to file for personal bankruptcy to resolve the debt.

What happens to the assets of a company that is struck off?

During a voluntary strike-off, this means that directors must either liquidate any assets and keep the money, or transfer them elsewhere. If neither of these options is taken, then the assets, including company accounts, will be transferred to the Crown upon the companys closing.

How do you strike off a private company?

Strike off simply means removing of the name of the company from the Registrar of Company. Section 248 of The Companies Act 2013 states about the provisions of Strike off of company. A company can make application to roc for strike off a company after extinguishing all its liabilities.

What happens to directors when a company is struck off?

Striking off allows the directors to retain full control of the business throughout the process and, although creditors must be repaid before the closure, there is no requirement to hold a formal creditors meeting.

What happens if a limited company is struck off?

Youll lose access to company bank accounts. You will not be able to send or receive money. Youll have to restore the company to get your bank accounts back.

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Strike out company accredetation easily