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when not to use strike off procedure there can be serious consequences if directors use the strike-off procedure as a means to try and avoid paying debts there is currently a blanket objection by the government to any strike-off application where there is an outstanding bounce back loan indeed legislation was introduced making such applications illegal and many directors are now facing the consequences with disqualification fines and even imprisonment failure to notify all interested parties of a strike-off application is an offense punishable by up to 12 months in prison note also that creditors have up to 20 years after dissolution to restore a company to the register so that they can pursue recovery of a debt where a company is insolvent accreditors voluntary liquidation CVL might therefore be the only available option our insolvency practitioner is licensed by the insolvency practitioners Association and with Decades of experience can offer you the expertise and guidance needed to
