test_questions.csv

question_no	question_text
Q1	I set up a limited liability company in 2015. My business suffered greatly during the Covid-19 pandemic, and it still hasn’t recovered yet. I fell into arrears, and one of my suppliers submitted a winding-up petition against my business. A friend of mine is willing to invest money in my company. Do I have good chances of avoiding a liquidation order if my friend commits to pumping money into my business?
Q2	My business has been running at a deficit for a few years. In 2021, I got a loan from NatWest to stay afloat. I have given my share in the family home (50%) as a collateral for this loan. I am now unable to repay it. What should I do? Can the bank repossess my house?
Q3	My business (a small restaurant in Egham) is saddled with debt towards several suppliers. I do have a loyal customer base, but I feel that I need to reduce my debt burden. My brother offered to buy my business for a fair price, and he also told me he would like to retain me and some of my employees. However, he says that I need to deal with my debt before selling the business to him. I don’t have savings. What can I do?
Q4	I own a pub in Windsor. I have been badly hit by the rise in interest rates on my loans, by additional taxes on alcohol as well as by a reduction in my customer base. I fell in arrears in the payments towards the HMRC, as well as some of my suppliers (but I had to pay in full some of them, as otherwise I would have had to close my business). I reached an agreement with my bank and with most of my suppliers to delay the repayment of my debt. The HMRC won’t listen and they are threatening legal actions against me. What can I do? HMRC counts for roughly 50% of my unsecured debt (the debt towards the bank is secured by a collateral on my pub).
Q5	I have been badly hit by the rise in interest rates on my loans, as well as by a reduction in my customer base (I run a pub in Ascot). I fell in arrears in the payments towards the HMRC, as well as some of my suppliers (but I had to pay in full some of them, as otherwise I would have had to close my business). My landlord is demanding an extortionate amount of money for my rent. While I agreed to a new, 5-year leasing agreement, I realised that I am operating at a loss unless my rent is reduced and the HMRC agrees to a repayment plan. What can I do?
Q6	I am a real estate developer. Due to the current housing crisis, my mortgages have ballooned, and I am struggling to make money out of the sale of the properties I recently completed. While my housing portfolio is significant, most properties are not yet ready for the market. I am not paying all my suppliers, and the banks are chasing me multiple times per day. If they foreclose, I lose everything. If I complete all my projects, I can repay the banks and the suppliers. However, one of them just filed a petition for winding up my business. I refuse to believe I am insolvent. Is it likely that the petition will be dismissed?
Q7	My brother and I have been working together on our hand-made furniture shop for 20+ years. Last year, we had to liquidate the business because we could no longer pay the bills. An official receiver was appointed. Yesterday, he came back to us and asked to repay all the dividends we received in the 5 years before insolvency. This is a ridiculous amount of money (£150,000 each). My brother and I never received a salary. The official receiver says that we could not get any dividends because the business was operating at a loss. We were only paid in dividends to avoid income tax, and because my accountant told me that was fine. Surely, we don’t have to repay that money?
Q8	My business went into liquidation last year. I was the owner and director. A liquidator was appointed. He is threatening to sue me for breaching my duties as a director unless I return the money I received as monthly repayments for a loan I gave to my company. He’s also threatening to start a disqualification procedure against me for the same reason. I believe I did nothing wrong – this was a fair loan with interests below the market rate. However, I cannot risk being disqualified, because I am also working as a director in my sister’s company. What can I do? Should I return the money?
Q9	My business is operating at a loss. Chase Bank is my major lender, and they have a security over my home. I fell into arrears towards several suppliers, but I do believe I can turn around my business if I am given a bit more time to repay my debts. What can I do?
Q10	My business went into liquidation last March. I tried my best to avoid it. I may have preferred some creditors over others, but simply because they knew I was struggling, and they would not give me their products on credit. I may also have taken some money out of the business account to repay the mortgage on my house. Surely, I did nothing wrong? Do I risk anything?
Q11	My life-long partner just left me for an Italian scugnizzo who is 15 years younger than her. What’s worse is that before leaving, she emptied our joint business account and she stopped paying the joint mortgage we have on our business. The bank is threatening legal actions against me, and to foreclose on the business property. What can I do? By the way, I cannot contact my (ex) partner but I believe she’s now in Italy with her new partner.
Q12	After Brexit, I set up a business in the Netherlands. This is a limited liability company. I am the sole director of that company. There are no employees in the Netherlands, just some people I hire occasionally to load and unload the lorries that distribute my products to the rest of Europe. I have now decided to stop selling goods to Europe, because it is not profitable. I want to wind-up the business here in the UK. Can I do it?