output_train_insolvency_bot_with_gpt-3.5-turbo.csv

question_no	question_text	bot_response	bot_response_time	bot_response_attempts	bot_statutes	bot_cases	bot_forms
Q1	I left a position a couple of months ago after a disagreement with the other director on the direction of the company. I signed a stock transfer form a month ago to return the 5% I had in the business and assumed it was dealt with after I was told it would be filed and I would be removed. Today, the other director dropped the keys for the offices rented by the business and a note saying I was never taken off of the business and to sell all of the assets, close down the business and pay off the debts (along with sending the other director some money). It came a bit out of left field and I'm fairly new to business but I assumed when I signed that form it removed all of my permissions from doing anything with company assets or filings? Any advice would help as I currently don't know what to do other than send the keys back recorded delivery so I cannot be accused of theft or anything.	I am not a lawyer, but I can provide some general guidance based on the information you have provided. Firstly, it is important to consult with a corporate insolvency lawyer who can provide you with specific legal advice tailored to your situation. Regarding the stock transfer form you signed, it is possible that it may have removed your ownership interest in the business, but it may not have necessarily removed your directorship or other responsibilities and obligations as a director. Directors have legal duties and obligations to the company, even if they are no longer shareholders. If you have concerns about your status as a director and the actions taken by the other director, it may be appropriate to seek legal advice about these matters. A lawyer can review the specific details and documentation related to your situation to determine the best course of action. Additionally, it is important to ensure that you do not engage in any activities that might be seen as unauthorized or potentially harmful to the company. Returning the keys and any company property is a reasonable step to take to avoid any potential accusations. Overall, I would highly recommend consulting with a corporate insolvency lawyer who can guide you through the specific legal requirements and implications of your situation. They can provide you with the necessary advice and assistance to protect your interests and comply with your legal obligations.	5.472355365753174	1	Companies Act 2006 section 154 (A company's directors)|Insolvency Act 1986 section 371 (Bankruptcy)|Insolvency Act 1986 section 234 (Miscellaneous Provisions Applying to Companies Which are Insolvent or in Liquidation)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)	Cheyne Finance plc (No 2), Re [2007] EWHC 2402 (Ch) (Notion of Insolvency; Cash flowS; Balance sheets; Debt; Receivership; Standard of proof)|Casa Estates (UK) Ltd (in liq.), Re [2014] EWCA Civ 383 (Notion of Insolvency; Balance sheets; Cash flows; Transactions at an undervalue)|Lancefield v Lancefield [2002] 4 WLUK 467 (Jurisdiction; Partnerships; Winding-up orders)|Byblos Bank SAL v Al-Khudhairy (1986) 2 B.C.C. 99 (CA) (Notion of Insolvency; Winding-up orders)|Bradcrown Ltd, Re [2002] B.C.C. 428 (Directors' duties and powers; Misconduct; Disqualification)|BNY Corporate Trustee Service ltd v Eurosail [2013] UKSC 28 (Notion of Insolvency; Crystallisation; Liabilities; Security)	Here is a useful form from Companies House: Companies House Form AP01|Here is a useful form from Companies House: Companies House Form TM01|Here is a useful form from Companies House: Companies House Form AM15
Q2	Hi, I hope someone can help advise as Citizens advice are a 14 day turn around and I feel so angry and stressed. My partner was working for a subcontractor I will refer to as X and he subcontracts from Y who then subcontracts from a massive house builder in the UK. X had been booking in work with Y and the work hadn't been done so when Y found out they said he wouldn't be getting anymore more money to pay his 13 guys wages. So now my partner hasn't been paid £1800 after tax becuase of this. Apparently X doesn't have the money and he owes Y over £30k. My partner has tried to contact X and be reasonable about it but he started off saying my partner was at the top of his priority list and he would be paid the money, it is now 3 weeks later and X is ignoring calls and texts. Never in our lives have we struggled like this, we are a large family my partner and I have 8 children together and have now had to use a food bank for the last 2 weeks which we have never had to do as we have been pay check to pay check since covid as we didn't take any of the gouverment grants and this has massively set us back. Please can someone help, what can we do, can I persue X, Y and the massive UK house builder? Should I call. The massive UK house builder and speak to them and let them know the kind of guy that has been subcontracted? Would they even care? We can't let this just be accepted as a loss of £1800 as its put us in debt and it has really affected our family massively. Many Thanks in advance for anyone who takes the time to read and respond.	I'm sorry to hear about the difficult situation you and your partner are facing. Given the complex nature of your case and the specific details involved, it is advisable to consult with a solicitor or lawyer who specializes in corporate insolvency law. They will be able to provide you with tailored advice based on your circumstances. In general, if your partner has not been paid the amount owed to him by subcontractor X, he may have legal recourse to recover the unpaid wages. Possible avenues to explore include: 1. Direct Communication: Your partner should continue trying to contact X and document any communication attempts made. It may also be worth contacting subcontractor Y and informing them of the situation, as they may have liability for unpaid wages owed by X. 2. Statutory Demands: Your partner could consider issuing a statutory demand to X, which is a formal demand for payment of a debt. If X fails to respond or fails to pay within the prescribed time period (21 days), this could be grounds to apply for bankruptcy or petition for winding-up against the company. 3. Small Claims Court: If the amount owed is within the limit set for	5.476956367492676	1	Companies Act 2006 section 154 (A company's directors)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Companies Act 2006 section 43 (A company's capacity and related matters)|Insolvency Act 1986 section 222 (Winding Up of Unregistered Companies)	"Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|Salomon v Salomon & Co. [1897] AC 22 (Limited liability; Piercing the corproate veil; Notion of company)|Rowntree Ventures Ltd v Oak Property Partners Ltd [2016] EWHC 1523 (Ch) (Rescue Procedures; Notion of insolvency; Cash-flows; Balance-sheets; Inability to pay debts)|Prest v Petrodel Resources Ltd [2013] UKSC 34 (Piercing the corporate veil; Limited liability)|MacDonald Dickens & Macklin v Costello [2011] EWCA Civ 930 (Piercing the corporate veil; Breach of contract; Privity of contract; Unjust enrichment)|Gilford Motor Co. Ltd v Horne [1933] Ch. 935 (Piercing the corporate veil; Directors; )|Petitioner v Company [2022] 6 WLUK 131 (Coronavirus; Demands; Inability to pay debts; Loan agreements; Winding-up petitions
)|Adams v Cape Industries Plc (1990) BCLC 479 (Foreign jurisdiction; Duty of care; Parent companies; Subsidiary companies; Tortious liability)|Gencor ACP Ltd v Dalby [2000] 7 WLUK 805 (Commission; Directors; Fiduciary duty; Profits)|FG Films Ltd, In Re [1953] 1 All ER 615 (Notion of company; Piercing the corporate veil)|Kaytech Int’l Plc, Re [1999] B.C.C. 390 (Investigating and Suppressing Misconduct; Disqualification; Directors)|Re City Build (London) Ltd (in liq.) [2022] EWHC 364 (Ch) (Breach of fiduciary duty; De facto directors; Directors' powers and duties; Shadow directors; Transactions at an undervalue)|DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 3 All ER 462 (Corporate personality; single economic unit; parent company; holdings)"	Here is a useful form from Companies House: Companies House Form DS01|Here is a useful form from Companies House: Companies House Form MT03|Here is a useful form from Companies House: Companies House Form RT01
Q3	Good Evening, I am in an extremely difficult situation and I'm looking for a specialist lawyer who can help me with the following: Company A is a trading company that has been in business since 2008 and has been liquidated in 2023. Company B is a property company that has been in business since 2020. We are currently in liquidation with Company A, and one of the creditors is a bank due to an RLS loan. This loan is a cross-guarantee, which means that in case of liquidation, the property company is liable to pay this amount. Background: Company A gave an intercompany loan to Company B to facilitate the purchase of an industrial unit. As Company A is in liquidation, the insolvency practitioner will be asking for the loan amount to be repaid. This means that not only is Company B liable to pay the RLS, but they will also be liable to pay the intercompany loan along with the mortgage on Company B. This puts Company B in a difficult position, and the liquidators are putting pressure on them and asking to put Company B into administration with them. This way, they can sell the industrial unit and I will lose everything I have worked for over the last 17 years. I am here to get some advice, help, and support, but I feel like I have lost it all. Is there any point in carrying on....?	I'm sorry to hear about your difficult situation. It is important to note that I can provide general legal information and guidance, but I am not able to provide specific legal advice. To address your concerns, you may want to consider consulting with a specialist insolvency lawyer who can provide you with tailored advice based on the specific details of your case. In general, when a company is in liquidation, the liquidators have a duty to collect and distribute the assets of the company to its creditors. If Company B is liable for the intercompany loan, it may be required to repay that loan as part of the liquidation process. This could potentially add to the financial burdens of Company B. However, it is important to review the specific terms of the loan agreement and the circumstances surrounding the intercompany loan to determine the extent of Company B's liability. Additionally, it may be possible to negotiate with the liquidators or explore alternative options to mitigate the impact on Company B, such as restructuring or negotiating payment plans. Consulting with an insolvency lawyer will help you understand your rights and options, and they can provide guidance on strategies to protect your interests and minimize the potential losses. They can also assist with negotiations and potential legal proceedings, such as challenging the liquidation or seeking alternative resolutions. Remember, every case is unique, and it's crucial to seek professional advice tailored to your specific situation. An insolvency lawyer will be best equipped to guide you through this difficult time and help you make informed decisions. Please note that I am an AI language model and cannot provide specific legal advice or representation. It is always recommended to consult with a qualified lawyer for your legal needs.	6.553954839706421	1	Insolvency Act 1986 section 95 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section A16 (Moratorium)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	HLC Environmental Projects Ltd, Re [2013] EWHC 2876 (Ch) (Cash flows; Notion of insolvency; Directors' liabilities; Directors' powers and duties; Liquidators' powers and duties; Misfeasance; Payments in insolvency)|Maxwell Communications Corporation Plc (No 2), Re [1993] B.C.C. 369 (Debt; Schemes of arrangement; Subordination)|Cheyne Finance plc (No 2), Re [2007] EWHC 2402 (Ch) (Notion of Insolvency; Cash flowS; Balance sheets; Debt; Receivership; Standard of proof)|Casa Estates (UK) Ltd (in liq.), Re [2014] EWCA Civ 383 (Notion of Insolvency; Balance sheets; Cash flows; Transactions at an undervalue)|Eurofood IFSC ltd, Re [2006] Ch. 508 C-341/04  (Centre of main interests; EU law; Commencement; Corporate insolvency; Insolvency proceedings; Recognition of judgments; Subsidiary companies)|Byblos Bank SAL v Al-Khudhairy (1986) 2 B.C.C. 99 (CA) (Notion of Insolvency; Winding-up orders)|BNY Corporate Trustee Service ltd v Eurosail [2013] UKSC 28 (Notion of Insolvency; Crystallisation; Liabilities; Security)	Here is a useful form from Companies House: Companies House Form WU04|Here is a useful form from Companies House: Companies House Form AM22|Here is a useful form from Companies House: Companies House Form 600CH
Q4	I know that LTD company debts, stay with the LTD company, and a personal individual cannot be chased for this. What happens when it's the other way round. A personal debt against an individual who is the sole director of multiple LTD companies? Can company assets be seized to pay a personal debt?	In general, the principle of limited liability means that company debts are separate from the personal liabilities of its directors and shareholders. This means that if a company incurs debts, the company itself is responsible for paying them, and the personal assets of the directors or shareholders cannot be seized to satisfy the company's debts. However, there are exceptions to this general principle, and circumstances where personal assets of directors can be at risk. It's important to consider the specific details of the situation and seek legal advice for accurate guidance. Here are a few scenarios where personal assets of a director may be at risk: 1. Personal guarantee: If a director has given a personal guarantee for a company debt, they can be personally liable for that debt. In such cases, the	3.9879167079925537	1	Company Directors Disqualification Act 1986 section 15|Insolvency Act 1986 section 373 (Individual Insolvency: General Provisions)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Companies Act 2006 section 1187 (Company directors: foreign disqualification etc)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)	Salomon v Salomon & Co. [1897] AC 22 (Limited liability; Piercing the corproate veil; Notion of company)|PSV 1982 v Langdon [2022] EWCA Civ 1319 (Cross-Border Insolvency; Directors disqualification; Directors' liabilities; Liquidation)|Prest v Petrodel Resources Ltd [2013] UKSC 34 (Piercing the corporate veil; Limited liability)|MacDonald Dickens & Macklin v Costello [2011] EWCA Civ 930 (Piercing the corporate veil; Breach of contract; Privity of contract; Unjust enrichment)|Gilford Motor Co. Ltd v Horne [1933] Ch. 935 (Piercing the corporate veil; Directors; )|Adams v Cape Industries Plc (1990) BCLC 479 (Foreign jurisdiction; Duty of care; Parent companies; Subsidiary companies; Tortious liability)|Gencor ACP Ltd v Dalby [2000] 7 WLUK 805 (Commission; Directors; Fiduciary duty; Profits)|FG Films Ltd, In Re [1953] 1 All ER 615 (Notion of company; Piercing the corporate veil)|Kaytech Int’l Plc, Re [1999] B.C.C. 390 (Investigating and Suppressing Misconduct; Disqualification; Directors)|Re Glam and Tan Ltd [2022] EWHC 855 (Ch) (De facto directors; Directors' powers and duties; Distributions; Dividends; Liquidators' powers and duties)|Re City Build (London) Ltd (in liq.) [2022] EWHC 364 (Ch) (Breach of fiduciary duty; De facto directors; Directors' powers and duties; Shadow directors; Transactions at an undervalue)|DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 3 All ER 462 (Corporate personality; single economic unit; parent company; holdings)	Here is a useful form from Companies House: Companies House Form 600CH|Here is a useful form from Companies House: Companies House Form MT03|Here is a useful form from Companies House: Companies House Form LIQ02
Q5	"I posted a thread s few weeks back about ""closing my ltd company and who to pay"" and got some really helpful advice. Today I got a phone call from a debt collection agency, on behalf of Utility Bidder ( a comparison site for business energy) who I went thru when energy prices were rising and I wanted to secure the best price. Apparently I have broken the contract by not seeing out the whole 3 yr term and they're chasing me for about 1k inc vat. I told him I had applied to companies House to dissolve the company and he told me I wouldn't be able to because I have this outstanding debt with them and I should see an insolvency practitioner. When I told him that I wasnt going to spend 2k+ to settle a 1k debt ,he suggested a payment plan. I asked for time to get some advice because obviously the company has no money with which to pay. He suggested that I should ""find the money from somewhere"". I was a very small bakery and essentially all the equipment was mine, most of it I owned before I set up, some I bought but with my own money, and I used the company money to buy mainly ingredients and small things like replacement knives/bowls. I stopped trading on 24th Dec, I gave notice on my unit and moved out on 18th Jan. I have not traded since and there is no outstanding payments due for goods i supplied. Do I just stick to my guns and let it run its course till they run out of steam?"	I am not a lawyer, but I can try to offer some general guidance based on the information you've provided. Firstly, it's important to note that as a limited company, your personal liability is generally limited to the company's debts and obligations. However, there are situations where directors can be personally liable for certain debts, such as if they have given personal guarantees for company loans or if there has been wrongful trading or fraudulent activity. Regarding the debt collection agency's claim, it's advisable to seek legal advice to assess the validity of the claim and the enforceability of the contract. If you believe that you have not breached the contract or that the terms are unfair or unreasonable, you may have grounds to dispute the debt and defend against any legal action. In terms of dissolving your company, it is generally possible to apply for voluntary strike-off or voluntary liquidation if the company is solvent and has no outstanding debts or liabilities. However, if there are outstanding debts, it may be more appropriate to consider other options such as a formal insolvency process like administration or liquidation. Consulting with an insolvency practitioner would be beneficial in determining the best course of action based on your specific circumstances. It's also worth noting that the process of winding up a company does not automatically extinguish or invalidate existing contracts, and any outstanding debts or obligations may still need to be addressed. Lastly, I would recommend seeking legal advice from a qualified professional who specializes in corporate insolvency to ensure you receive the most accurate and tailored advice for your situation. They will be able to assess your specific circumstances and provide guidance on the best course of action.	6.741786479949951	1	Companies Act 2006 section 251 (A company's directors)|Insolvency Act 1986 section A16 (Moratorium)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|Cheyne Finance plc (No 2), Re [2007] EWHC 2402 (Ch) (Notion of Insolvency; Cash flowS; Balance sheets; Debt; Receivership; Standard of proof)|Casa Estates (UK) Ltd (in liq.), Re [2014] EWCA Civ 383 (Notion of Insolvency; Balance sheets; Cash flows; Transactions at an undervalue)|Byblos Bank SAL v Al-Khudhairy (1986) 2 B.C.C. 99 (CA) (Notion of Insolvency; Winding-up orders)|King v Anthony [1998] 2 B.C.L.C. 517 (Individual voluntary arrangements; Insolvency practitioners)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|BNY Corporate Trustee Service ltd v Eurosail [2013] UKSC 28 (Notion of Insolvency; Crystallisation; Liabilities; Security)	Here is a useful form from Companies House: Companies House Form DS02|Here is a useful form from Companies House: Companies House Form AM23|Here is a useful form from Companies House: Companies House Form IC02
Q6	A creditor committee had been formed a few months ago in a quick time, without involving any voting or consent from the creditors. We have found the creditor committee is not doing thing for the best interest of the creditors. We may take the following action. 1. To remove some existing members and to be replaced by some others. 2. To add some new members. Can we do it and how can we do it? Thanks	If you are dissatisfied with the actions and decisions of the creditor committee and believe that changes need to be made, there are certain steps you can take to address your concerns. 1. Removing existing members and replacing them with others: a. Review the relevant governing documents, such as the company's articles of association or the terms of reference for the creditor committee. These documents may outline the process for removing and replacing committee members. b. Check if there are any specific grounds or procedures for removal outlined in the governing documents. In the absence of such provisions, general company law principles and the Company Directors Disqualification Act 1986 may apply. c. Hold a meeting of the creditors and propose the removal of specific committee members. This can be done by calling a creditors' meeting and obtaining the necessary voting majority to approve the removal. d. Ensure that the proposed replacements meet any eligibility criteria set out in the governing documents and obtain their consent to serve as committee members. e. Follow any notification or filing requirements set by Companies House or other relevant authorities when making changes to the committee membership. 2. Adding new members: a. Again, review the governing documents to determine if there are any provisions for adding new committee members. b. If permitted, propose the addition of new members at a creditors' meeting and seek approval from the other creditors. c. Ensure that the proposed new members meet any eligibility criteria set out in the governing documents and obtain their consent to serve on the committee. d. Comply with any notification or filing requirements when adding new members. 3. Seek legal advice: It is advisable to consult with a corporate insolvency lawyer who can review the specific circumstances and governing documents of your case. They can provide tailored advice and guidance on the best course of action, ensuring compliance with relevant statutes and legal obligations. Remember, the specific process for removing and adding members to a creditor committee may vary depending on the governing documents and the particular circumstances of the case. Seeking legal advice will help you navigate the process effectively.	8.738442420959473	1	The Insolvency (England and Wales) Rules 2016 section 17.8 (CREDITORS' AND LIQUIDATION COMMITTEE)|Insolvency Act 1986 section 301 (Bankruptcy)|Insolvency Act 1986 section 49 (Receivership)	Re Smile Telecoms SA [2022] EWHC 740 (Ch) (Business restructuring; Classes of creditors; Debt restructuring; Discretion; Expert evidence; Foreign companies; Cross-border insolvency; Opposition; Schemes of arrangement)|St George’s Property Services (London) Ltd (in admin.), Re [2011] EWCA Civ858 (Administration; Administrators; Administrators' powers and duties; Extortionate credit transactions; Removal; Replacement administrators; Unsecured creditors)|Lehman Brothers Int’l (Europe) (in admin.) Re [2014] EWHC 704 (Ch) (Administration; Contributories; Foreign currency transactions; Liquidation; Set-off; Subordination agreements)	Here is a useful form from Companies House: Companies House Form SH11|Here is a useful form from Companies House: Companies House Form COM1|Here is a useful form from Companies House: Companies House Form COM2
Q7	We have a ltd company with 2 shareholders/directors. Unfortunately over the last year work has really quietened down. Also the other shareholder/director would like to leave the company for new ventures. This would leave us in a position where the business could no longer carry on. We have no debt and no overdrawn directors accounts. we didn't take any bounce back loans. All vat bills would be paid as would Cox. The only thing we wouldnt have enough money for is to terminate our telecoms contract which has 7 years left. (they are completely unreasonable and not budging) Would we require liquidators purely for this reason? Thanks.	Based on the information provided, it seems like the company is currently facing financial difficulties and may not be able to continue its operations in the long term. In this situation, you may consider the following options: 1. Members' Voluntary Liquidation (MVL): If both shareholders/directors agree to wind up the company voluntarily, you can consider an MVL. This is a formal process where a liquidator is appointed to wind up the affairs of the company, sell its assets, and distribute the proceeds to the shareholders. 2. Creditors' Voluntary Liquidation (CVL): If the company is unable to pay its debts and you want to wind up the company voluntarily, you can consider a CVL. This process involves appointing a liquidator who will realize the company's assets, settle its debts to the extent possible, and distribute any remaining funds to the creditors. 3. Dissolution: If the company has no debts and no assets, you may also consider applying for voluntary dissolution. This is a simpler process and does not involve appointing a liquidator. However, it is important to ensure that all creditors have been paid, as dissolving the company with outstanding debts can result in personal liability for the directors. It is advisable to consult with a solicitor or a licensed insolvency practitioner to discuss the specific circumstances of your company and determine the most appropriate course of action. They can guide you through the process, ensure compliance with legal requirements, and provide advice on the termination of the telecoms contract.	5.161887884140015	1	Companies Act 2006 section 3 (General introductory provisions)|Companies Act 2006 section 58 (A company's name)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|Cheyne Finance plc (No 2), Re [2007] EWHC 2402 (Ch) (Notion of Insolvency; Cash flowS; Balance sheets; Debt; Receivership; Standard of proof)|Casa Estates (UK) Ltd (in liq.), Re [2014] EWCA Civ 383 (Notion of Insolvency; Balance sheets; Cash flows; Transactions at an undervalue)|Byblos Bank SAL v Al-Khudhairy (1986) 2 B.C.C. 99 (CA) (Notion of Insolvency; Winding-up orders)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|SSSL Realisations (2002) Ltd (in liq.), Re [2006] EWCA Civ 7 (Creditors; Deeds; Distribution of assets; Equitable charges; Indemnities; Set-off; Subordination)|BNY Corporate Trustee Service ltd v Eurosail [2013] UKSC 28 (Notion of Insolvency; Crystallisation; Liabilities; Security)	Here is a useful form from Companies House: Companies House Form AA02|Here is a useful form from Companies House: Companies House Form TM01|Here is a useful form from Companies House: Companies House Form MT03
Q8	We've screwed up. We informed our landlord that we would like to execute a break clause in our lease (5 year contract with a 3-year break). As per our lease agreement, we need to provide the landlord at least 3 months notice on the break. We informed them 7 days too late to conform to that requirement (i.e. we've given them 2 months and 3 weeks notice). The person this fell to was out-of-action last week, when they were supposed to do this. Landlord is holding this against us, saying that we are too late, and are liable for the final 2 years. Note, we'd discussed this with the landlord several months ago, that we were looking to get out of the lease sooner as we no longer had enough space to operate effectively. The landlord even arranged viewings for prospective tenants. But we did not formally request it until today (too late). Where do we stand on this?	I am an AI language model and cannot provide legal advice. However, I can offer some general information that may be helpful. In this situation, it seems that you have missed the deadline specified in the lease agreement for exercising the break clause. The landlord is asserting that you are therefore liable for the remaining two years of the lease. The first step would be to carefully review the terms of the lease agreement to understand the exact requirements and consequences of exercising the break clause. It is essential to determine if there are any provisions for late notices or if strict compliance with the notice period is required. If strict compliance is required, it may be challenging to argue that you can still exercise the break clause. However, there are certain circumstances where a court may be willing to allow for flexibility. For example, if there was a clear prior understanding or agreement between both parties about your intention to terminate the lease early, it may be possible to argue that the landlord would not suffer any significant prejudice due to the late notice. It's important to note that the specific facts and circumstances of your case will play a significant role in determining the potential outcomes. It would be advisable to consult with a lawyer who specializes in commercial property or contract law to assess your options and provide tailored advice based on the specific details of your situation. Remember, this response is for informational purposes only and should not be considered as legal advice. Consulting with a qualified legal professional is always recommended in situations like yours.	4.945323944091797	1	Companies Act 2006 section 154 (A company's directors)|Companies Act 2006 section 266 (Derivative claims and proceedings by members)|Companies Act 2006 section 251 (A company's directors)	BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|Lazari Properties 2 Ltd v New Look Retailers Ltd [2021] EWHC 1209 (Classes of creditors; Company voluntary arrangements; Coronavirus; Debt restructuring; Equal treatment; Landlords' rights; Material irregularity)|Prudential Assurance Co Ltd v PRG Powerhouse Ltd [2007] EWHC 1002 (Ch) (Company voluntary arrangements; Unfairly prejudicial conduct)	Here is a useful form from Companies House: Companies House Form AM05|Here is a useful form from Companies House: Companies House Form AM19|Here is a useful form from Companies House: Companies House Form AM21
Q9	Business has been a LTD Company since 2014 with good trading history in retail/B2B. Like many we suffered during covid after being closed and not being able to trade as normal. We restructured in some ways but still required retail store. We have recently had to close the retail store Nov 22 to reduce costs and restructure our customer base more towards B2B clients. After 3 months trading from a new non retail location we have come to the conclusion the business is no longer viable for various reasons. Business has 2 equal directors. BBL Natwest balance around £14k which has been paid consistently until Jan when we had to take a payment holiday to help with cash flow. We have an OD with bank of around 6K which has a directors guarantee, we could probably cover this with sale of assets. CH & HMRC in good order. A few outstanding invoices from the closure retail store for around 7K, asset sale won't cover. Two lease cars both with 1 year each left on lease but leased via LTD company with no directors guarantee that we can see in the paperwork. Our customer base has pretty much dried up and the customers we do have are being very careful on what they spend since cost of living issue hit the media, so although we are trading we struggle with cash flow on a daily basis. I know these amounts are not huge but we feel like we are fighting a loosing battle and want to look at options of closing the business or selling it and moving on. But have no idea where to start. This I'm sure is a very common story after recent events and I never thought I would ever be even contemplating these options but it feels like the only option. Have read a few posts and seen the SpongeBob post but don't know what to do for best. Have a meeting with accountant soon to discuss but would be great-full for any advise. TIA	I am not a lawyer, but I can provide some general guidance on the options you may consider in your situation. It is always recommended to consult with a qualified insolvency professional or solicitor for specific legal advice tailored to your circumstances. 1. Assess the viability of the business: Before making any decisions, it is important to carefully evaluate the financial position and future prospects of the company. Consider factors such as cash flow, profitability, market conditions, and customer demand. If the business is no longer sustainable, it may be necessary to explore options for closure or sale. 2. Inform your accountant: Schedule a meeting with your accountant to discuss the financial situation of the company and potential options available. They will be able to provide advice specific to your business and help you navigate the necessary steps. 3. Company closure: a. Voluntary liquidation: You may consider voluntary liquidation, where the company's assets are realized and distributed to creditors in accordance with insolvency laws. This process allows for an orderly wind-up of the business. b. Members' voluntary liquidation: If the company is solvent, you may choose to initiate a members' voluntary liquidation, where the company's assets are liquidated and distributed to shareholders. c. Strike off the register: Another option is to apply for the company to be struck off the register at Companies House. This is	6.361947774887085	1	Companies Act 2006 section 155 (A company's directors)|Companies Act 2006 section 154 (A company's directors)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|Salomon v Salomon & Co. [1897] AC 22 (Limited liability; Piercing the corproate veil; Notion of company)|Prest v Petrodel Resources Ltd [2013] UKSC 34 (Piercing the corporate veil; Limited liability)|MacDonald Dickens & Macklin v Costello [2011] EWCA Civ 930 (Piercing the corporate veil; Breach of contract; Privity of contract; Unjust enrichment)|Gilford Motor Co. Ltd v Horne [1933] Ch. 935 (Piercing the corporate veil; Directors; )|Adams v Cape Industries Plc (1990) BCLC 479 (Foreign jurisdiction; Duty of care; Parent companies; Subsidiary companies; Tortious liability)|Gencor ACP Ltd v Dalby [2000] 7 WLUK 805 (Commission; Directors; Fiduciary duty; Profits)|FG Films Ltd, In Re [1953] 1 All ER 615 (Notion of company; Piercing the corporate veil)|Buchan and Ivey v Secretary of State for Trade and Industry (1997) IRLR 80 (Notion of directors; Employment)|Kaytech Int’l Plc, Re [1999] B.C.C. 390 (Investigating and Suppressing Misconduct; Disqualification; Directors)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|Re City Build (London) Ltd (in liq.) [2022] EWHC 364 (Ch) (Breach of fiduciary duty; De facto directors; Directors' powers and duties; Shadow directors; Transactions at an undervalue)|DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 3 All ER 462 (Corporate personality; single economic unit; parent company; holdings)	Here is a useful form from Companies House: Companies House Form CH02|Here is a useful form from Companies House: Companies House Form AP01|Here is a useful form from Companies House: Companies House Form AP02
Q10	Hi everyone, long time lurker here. Fortunately, I've never needed to read this subsection until now! Bit of a backstory: I've been running a limited co for 6 years now, I've always had a bit of a hard time getting a hold of the accountants despite paying monthly retainers but the last couple of years have been particularly bad, late filings, no call backs and so on. I've recently switched to a new practice who have reviewed my accountants in full and immediately flagged a horrific situation. The accounts were a mess. The tax liabilities were much higher than expected and it turns out, I've unknowingly taken illegal dividends to the sum of 35k. I've spoken to a local liquidator who has stressed that this needs handled and I will be forced into personal bankruptcy, no question. I have no assets, everything was sold to keep the business going post-covid. Beyond the dividends, I owe personal tax. There's about 15k worth of equipment in the business and cash in the bank or due in. The top line has done well over the years but in the current climate, it will be almost impossible for the company to earn its way out of things. I'm wondering if there's any independent advice I could get? I'm terrified that if I go bankrupt, it will ruin my future prospects and could have been avoided. Thanks	"{ ""error"": { ""message"": ""This model's maximum context length is 4097 tokens. However, your messages resulted in 4187 tokens. Please reduce the length of the messages."", ""type"": ""invalid_request_error"", ""param"": ""messages"", ""code"": ""context_length_exceeded"" } } "	1.8407576084136963	1	Companies Act 2006 section 414 (Accounts and reports)|Companies Act 2006 section 472 (Accounts and reports)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Companies Act 2006 section 393 (Accounts and reports)	McTear v Eade [2019] EWHC 1673 (Ch) (Breach of fiduciary duty; Directors' duties and powers; Limited liability partnerships; Liquidation; Misfeasance)|Lo-Line Electric Motors Ltd, Re [1988] Ch. 477 (Investigating and Suppressing Misconduct; Directors; Disqualification; Misconduct)|Pathania v Tashie-Lewis [2021] EWHC 526 (Ch) (Investigating and suppressing misconduct; Directors' duties and powers; Transactions at an undervalue)|Official Receiver v Arron [2021] EWHC 1587 (Ch) (Investigating and suppressing misconduct; Directors disqualification; Directors' powers and duties;)|Re Glam and Tan Ltd [2022] EWHC 855 (Ch) (De facto directors; Directors' powers and duties; Distributions; Dividends; Liquidators' powers and duties)|BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|Spectrum Plus Ltd, Re [2005] UKHL 41 (Distribution of Assets; Book debts; Debentures; Fixed charges; Floating charges; Liquidation; Preferential creditors; Proof of debt; Security)|Johnson v Beighton [2019] EWHC 895 (Ch) (Investigating and suppressing misconduct; Directors' powers and duties; Contingent liabilities; Directors' liabilities; Knowledge; Liquidation; Wrongful trading)|Singer v Beckett [2001] BPIR 733 (Damages; Directors; Directors' liabilities; Directors' powers and duties; Liquidation; Wrongful trading; iNVESTIGATING AND SUPPRESSING MISCONDUCT)|Morris v Bank of India [2004] EWHC 528 (Ch) (Investigating and Suppressing Misconduct; Directors' duties and powers; Vicarious liability; Parent company; Tortious liability)	Here is a useful form from Companies House: Companies House Form LIQ02|Here is a useful form from Companies House: Companies House Form MT03|Here is a useful form from Companies House: Companies House Form 600CH
Q11	I know TUPE applies when a business changes hands. I seem to remember reading TUPE also applies if an unrelated business takes over the premises of another business in the same sector and trades from the same location - is that correct? Example in our town. Butchers gone in to administration, staff left in limbo, talk that a new butcher will be opening in the same premises soon. Would TUPE apply in those circumstances?	Under TUPE (Transfer of Undertakings (Protection of Employment) Regulations 2006), the transfer of a business or undertaking can trigger the automatic transfer of employees to the new employer, along with their employment contracts and certain associated rights and liabilities. In the scenario you mentioned, where a new butcher is opening in the same premises soon after the previous butcher went into administration, TUPE may apply depending on the specific circumstances. TUPE can apply not only in cases where there is a change of ownership, but also in cases where there is a service provision change. A service provision change occurs when there is a change in the provider of a service, even if there is no change in ownership of the business or undertaking. This can include situations where a new business takes over the provision of services previously carried out by another business in the same sector and location. To determine whether TUPE applies in this situation, you would need to consider whether the new butcher is taking over the provision of services that were previously provided by the old butcher. This could include taking over customers, equipment, or other assets associated with the provision of the butcher's services. If there is a service provision change and TUPE applies, the employees of the old butcher would have their employment transferred to the new owner, along with their rights and obligations under their existing employment contracts. The new owner would generally be required to honor the terms and conditions of employment and may not dismiss employees solely because of the transfer. It is important to note that the specific circumstances of the case would need to be carefully considered, and it is always advisable to seek legal advice to determine whether TUPE applies in a particular situation.	6.965508222579956	1	Companies Act 2006 section 1204 (Business names)|Companies Act 2006 section 853C (Annual confirmation of accuracy of information on register)|Companies Act 2006 section 247 (A company's directors)	SSSL Realisations (2002) Ltd (in liq.), Re [2006] EWCA Civ 7 (Creditors; Deeds; Distribution of assets; Equitable charges; Indemnities; Set-off; Subordination)|Metro Nominees (Wandsworth) (No 1) Ltd v Rayment [2008] B.C.C. 40 (Administration; Breach of covenant; Business tenancies; Forfeiture; Permission)|Charnley Davies Ltd (No 2), Re [1990] B.C.C. 605 (Administration; Duty of care; Sale of business; Unfairly prejudicial conduct)	Here is a useful form from Companies House: Companies House Form MR02|Here is a useful form from Companies House: Companies House Form PSC04|Here is a useful form from Companies House: Companies House Form PSC07
Q12	Hi there, I wonder if anybody else has been through this and can shed some light on it, So we've been trying to save our business and we've come to terms to realise with world events we cannot continue the company is effectively dead as we sold a luxury not a need. However HSBC have been very supportive and we told them we cannot pay and they said they do a long term no affordability. Send a few letters tick a few boxes they have said in a nutshell. The bounce back loan at the moment is on a payment holiday. So costing us very little a month. I have to give credit to HSBC and their support and advice. But it's the question of how the company is closed. However when do we strike the company off normally my main question? We have no money to liquidate and it and HSBC said they wouldn't liquidate it either for a 12k bounce back loan. We had our total bounce back loan on designing a new product for our company and buying stock for it. Not ever used for personal consumption. Will the company be left in limbo and then companies house eventually strike off, we owe nobody else apart from bounce back loan and I've put my own money into company to try and save it but we have to come to the terms that the world events cost of living have killed our business. It's a real heart breaking situation having owned this company since 2012: but the world has changed. I feel allot of hurt personally. Thanks everybody. Has anybody else been through the process?	"{ ""error"": { ""message"": ""This model's maximum context length is 4097 tokens. However, your messages resulted in 4214 tokens. Please reduce the length of the messages."", ""type"": ""invalid_request_error"", ""param"": ""messages"", ""code"": ""context_length_exceeded"" } } "	2.558941602706909	1	Insolvency Act 1986 section A18 (Moratorium)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 251G (Debt relief orders)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|McTear v Eade [2019] EWHC 1673 (Ch) (Breach of fiduciary duty; Directors' duties and powers; Limited liability partnerships; Liquidation; Misfeasance)|Lo-Line Electric Motors Ltd, Re [1988] Ch. 477 (Investigating and Suppressing Misconduct; Directors; Disqualification; Misconduct)|Pathania v Tashie-Lewis [2021] EWHC 526 (Ch) (Investigating and suppressing misconduct; Directors' duties and powers; Transactions at an undervalue)|Re Pure Zanzibar Ltd [2022] EWHC 971 (Ch) (Creditors' voluntary winding-up; Directors disqualification; Disqualification periods; Mitigation; Wrongful trading)|Official Receiver v Arron [2021] EWHC 1587 (Ch) (Investigating and suppressing misconduct; Directors disqualification; Directors' powers and duties;)|BTI 2014 LLC v Sequana SA [2022] UKSC 25 (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|Johnson v Beighton [2019] EWHC 895 (Ch) (Investigating and suppressing misconduct; Directors' powers and duties; Contingent liabilities; Directors' liabilities; Knowledge; Liquidation; Wrongful trading)|Singer v Beckett [2001] BPIR 733 (Damages; Directors; Directors' liabilities; Directors' powers and duties; Liquidation; Wrongful trading; iNVESTIGATING AND SUPPRESSING MISCONDUCT)|Morris v Bank of India [2004] EWHC 528 (Ch) (Investigating and Suppressing Misconduct; Directors' duties and powers; Vicarious liability; Parent company; Tortious liability)	Here is a useful form from Companies House: Companies House Form LIQ02|Here is a useful form from Companies House: Companies House Form RT01|Here is a useful form from Companies House: Companies House Form MT03
Q13	Sorry, bit of an essay, I am looking for some advice on a partnership matter. I am in a general partnership with one other; running a small retail shop. I manage nearly all the admin, finances etc, we both work in the shop and have one employee. We have managed to pay ourselves monthly drawings from profits for our time since we opened a few years ago, with a small additional profit on top most years. Drawings are related to hours worked and I get extra for admin time, though this generally doesn't accout for all the time I spend. I recently completed our tax return and became suspicious of our bank balance - we had a healthy buffer following the covid grants but this has gradually been eroded, and I have expressed concern to them several times, assuming that we were struggling and suggesting we might not be able to pay ourselves at the usual rate. We have a system whereby both partners are responsible for banking cash - we record amounts taken and are meant to record when they are paid in. My partner is very slack with record keeping and rarely fills in the paying in records or passes on paying in slips, and often needs prompting to pay in cash at end of month. I finally managed to check back through records we have both filled in for cash taken and payments received to bank - I know I should have done it sooner - and there is almost a £3000 shortfall in what they have recorded as taken and what they have paid in over last two years. When challenged they sent a letter apologising profusely saying they had got behind with paying in and record keeping, needed to borrow some cash, lost track of how much and basically panicked and buried head in sand and always intended to pay it back, but the reality is the money has been steadily taken over a two year period - generally something is paid in but has been short of what was actually taken from the till. They said they always intended to pay it back, but could never work it out and just ignored it, in hope that at some point they would be able to deal with it, and could never find the right time to tell me. I feel I am being taken for a mug. Alongside this they have proved to be pretty erratic in general - poor communication, record keeping and making silly errors (though some now seen more suspicious) which have cost us money. I end up spending a lot of time trying to track down errors or clear up the mess their errors cause, which has been quite stressful. They have quite a turbulent personal life which exacerbates errors and often precludes discussions about finances and procedures. My discovery of the shortfall comes at a time of personal crisis for my business partner which I have every sympathy for, but I am hurt and angry that they basically took cash from the business and let me stress about our finances without telling me that they had “borrowed” the cash. I have decided I no longer trust them and no longer want to be in the partnership - but am getting severe emotional blackmail from them regarding their personal situation and their involvement in the business. My questions are really about the technicalities of how to end it - we have a fairly thorough partnership agreement of which several terms with regard to paying in, handling cash and record keeping have been broken, so it would seems I have grounds to expel them, but as a two partner partnership, presumably this would result in instant dissolution too? The partnership deeds also have clauses relating to setting up similar businesses and lack of entitlement to goodwill following expulsion. Ideally my intention is to continue the business alone, but I am just looking for advice on potential pitfalls in the process of expulsion and dissolution that might arise, or potential problems regarding me taking on the business alone. I am anticipting working out balances owed either way and potentially may even have to buy them out of the assets, but am unclear about how the “goodwill” side of things works and if they have any claim to the name/intellectual property etc. And also am looking for reassurance.	"{ ""error"": { ""message"": ""This model's maximum context length is 4097 tokens. However, your messages resulted in 4426 tokens. Please reduce the length of the messages."", ""type"": ""invalid_request_error"", ""param"": ""messages"", ""code"": ""context_length_exceeded"" } } "	1.380272388458252	1	Companies Act 2006 section 251 (A company's directors)|Companies Act 2006 section 154 (A company's directors)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Salomon v Salomon & Co. [1897] AC 22 (Limited liability; Piercing the corproate veil; Notion of company)|Prest v Petrodel Resources Ltd [2013] UKSC 34 (Piercing the corporate veil; Limited liability)|MacDonald Dickens & Macklin v Costello [2011] EWCA Civ 930 (Piercing the corporate veil; Breach of contract; Privity of contract; Unjust enrichment)|Gilford Motor Co. Ltd v Horne [1933] Ch. 935 (Piercing the corporate veil; Directors; )|Adams v Cape Industries Plc (1990) BCLC 479 (Foreign jurisdiction; Duty of care; Parent companies; Subsidiary companies; Tortious liability)|Gencor ACP Ltd v Dalby [2000] 7 WLUK 805 (Commission; Directors; Fiduciary duty; Profits)|FG Films Ltd, In Re [1953] 1 All ER 615 (Notion of company; Piercing the corporate veil)|Lancefield v Lancefield [2002] 4 WLUK 467 (Jurisdiction; Partnerships; Winding-up orders)|Kaytech Int’l Plc, Re [1999] B.C.C. 390 (Investigating and Suppressing Misconduct; Disqualification; Directors)|BTI 2014 LLC v Sequana SA [2016] EWHC 1686 (Ch) (Directors' powers and duties; Breach of fiduciary duty; Good faith; Fiduciary duty)|Spectrum Plus Ltd, Re [2005] UKHL 41 (Distribution of Assets; Book debts; Debentures; Fixed charges; Floating charges; Liquidation; Preferential creditors; Proof of debt; Security)|Re City Build (London) Ltd (in liq.) [2022] EWHC 364 (Ch) (Breach of fiduciary duty; De facto directors; Directors' powers and duties; Shadow directors; Transactions at an undervalue)|DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 3 All ER 462 (Corporate personality; single economic unit; parent company; holdings)	Here is a useful form from Companies House: Companies House Form LIQ04|Here is a useful form from Companies House: Companies House Form AM23|Here is a useful form from Companies House: Companies House Form REC2
Q14	I'm in the process of winding up my limited business (only me and wife are directors with no employees). For my customers I officially stopped on 24th December but moved out of my premises on 18th Jan. My landlord was OK about me not being able to pay the rent and we agreed I'd get out pretty quick. I have no debt (like official bank loans or BBL except directors loans - amounting to a couple of thousand) apart from my latest direct debits for energy, water and broadband. Energy is probably the biggest as I paid every quarter - that falls this month. I have £600 left in the business account - who do I prioritise and what will happen when they chase me for any remainder?	As a corporate insolvency lawyer, I can provide you with some general guidance about prioritizing your payments in the winding up process of your limited business. However, please note that this advice is not a substitute for professional legal advice. I recommend consulting with an insolvency practitioner or a qualified insolvency lawyer for specific advice tailored to your situation. In the winding up process, there is a specific order of priority for distributing the assets of the company. This order of priority is set out in the Insolvency Act 1986 and includes the following categories: 1. Fixed charge holders: If you have any secured creditors who have a fixed charge over specific assets of your company, they will have first priority to those assets. 2. Costs and expenses of the winding up: Any costs and expenses incurred in the winding up process, including professional fees and the costs of the liquidation, will have priority before other debts. 3. Preferential creditors: Certain creditors, such as employees with outstanding wages and certain tax authorities, may have preferential status and will be paid before unsecured creditors. 4. Floating charge holders: If there are any creditors with a floating charge over the company's assets, they will have priority to those assets after the costs and expenses of the winding up and preferential creditors have been paid. 5. Unsecured creditors: Unsecured creditors, such as suppliers and trade creditors, will generally be paid next in line, after the costs and expenses of the winding up, the preferential creditors, and the floating charge holders have been satisfied. Please note that the actual distribution and priority of payments may depend on the specific circumstances of your case and any relevant agreements or arrangements. As for your specific situation, it	7.427110195159912	1	Companies Act 2006 section 251 (A company's directors)|Companies Act 2006 section 154 (A company's directors)|Insolvency Act 1986 section 124 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 123 (Winding Up of Companies Registered under the Companies Acts)|Insolvency Act 1986 section 122 (Winding Up of Companies Registered under the Companies Acts)	Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services [2011] UKSC 38 (Anti-deprivation principle; Good faith; Priorities; Order of distribution; Security)|Salomon v Salomon & Co. [1897] AC 22 (Limited liability; Piercing the corproate veil; Notion of company)|Prest v Petrodel Resources Ltd [2013] UKSC 34 (Piercing the corporate veil; Limited liability)|Marches Credit Union Ltd, Re [2013] EWHC 1731 (Ch) (Liquidation; Locus standi; Petitions; Union)|MacDonald Dickens & Macklin v Costello [2011] EWCA Civ 930 (Piercing the corporate veil; Breach of contract; Privity of contract; Unjust enrichment)|Gilford Motor Co. Ltd v Horne [1933] Ch. 935 (Piercing the corporate veil; Directors; )|Adams v Cape Industries Plc (1990) BCLC 479 (Foreign jurisdiction; Duty of care; Parent companies; Subsidiary companies; Tortious liability)|Gencor ACP Ltd v Dalby [2000] 7 WLUK 805 (Commission; Directors; Fiduciary duty; Profits)|Lehman Brothers Int’l (Europe) (in admin.) Re [2014] EWHC 704 (Ch) (Administration; Contributories; Foreign currency transactions; Liquidation; Set-off; Subordination agreements)|FG Films Ltd, In Re [1953] 1 All ER 615 (Notion of company; Piercing the corporate veil)|Kaytech Int’l Plc, Re [1999] B.C.C. 390 (Investigating and Suppressing Misconduct; Disqualification; Directors)|Re City Build (London) Ltd (in liq.) [2022] EWHC 364 (Ch) (Breach of fiduciary duty; De facto directors; Directors' powers and duties; Shadow directors; Transactions at an undervalue)|DHN Food Distributors Ltd v Tower Hamlets LBC [1976] 3 All ER 462 (Corporate personality; single economic unit; parent company; holdings)	Here is a useful form from Companies House: Companies House Form DS01|Here is a useful form from Companies House: Companies House Form LIQ06|Here is a useful form from Companies House: Companies House Form LIQ04