Join Date: Jul 2007
Thanked 0 Times in 0 Posts
The original post was informative in that it did eventually make clear excactly what the position was as regards that business.
It then became a general discussion as to the way directors can evade their companies debts and then just spring up five minutes later with a so called clean sheet leaving suppliers and employess high and dry without a paddle being unsecured.
Of course the dear old Revenue make sure they dont loose out as being preferential creditors.
Its strange to me that with 'Phoenix companies' the same Directors can then buy the assets at a no doubt knock down price and if they are using their own money why didn't they be honourable and put the cash back in the business in the first place to pay suppliers and keep the business going in an honourable way.
I think it is totally wrong that people who have made a pigs ear of running a business are just allowed to start up again. Those business's should be put on the open market for ANYONE interested to be able to bid for them and not just done behind closed doors.
These comments are my own personal view and in no way are comments on the business in receivership but a comment in general.