Dissolved company

How is a corporation dissolved? What is a dissolved company? Can directors dissolve a company?

To dissolve a company, which is also known as ‘ dissolution ’ or ‘ striking off ’, is a way of closing down a limited company by removing its name from the official register held at Companies House. Once the name is removed from the register, the company no longer legally exists.

Is it the same as liquidation? You can only apply to Companies House to get your company restored (known as ‘administrative restoration ’) if: you were a director or shareholder it was struck off the register and dissolved by the. Information for directors, secretaries or company advisers about how to dissolve a company or restore a company to the register.

The Bona Vacantia division (BVD) of the Government Legal Department deals with the disposal of shares previously owned by a dissolved company, which pass automatically to the Crown when a company is dissolved. It will be the BVD’s decision whether to sell shares for their market value or whether to disclaim the Crown’s interest in them. A company can apply to the registrar to be struck off the register and dissolved.

The company can do this if it’s no longer neede for example if: the directors wish to retire and there is no one. In situations where a company has become surplus to requirements (i.e. it has fulfilled the purpose it initially set out to achieve) and is no longer trading. Closing a limited company You usually need to have the agreement of your company ’s directors and shareholders to close a limited company. The way you close the company depends on whether it can pay.

List of information about Closing a company. Tell us whether you accept cookies. We use cookies to collect information about how you use GOV. We use this information to make the website work as.

When can a company be dissolved ? As shown on the DSform, there are certain requirements that a company must adhere to before it is eligible for dissolution. These requirements to dissolve a company are as follows: The company must not have trade carried on business or changed its name in the past three months previous to filing the DSform.

This depends on how the company was dissolved. We often hear the question ‘can you sue a dissolved company ? The answer is, unfortunately, not black and white.

If a Company has been struck off the Register then it is essentially dead and it is impossible to either bring claims against the Company or to take action on behalf of the Company. Company directors who want a company struck off the register (also known as a company being dissolved ) want to have a company marked down as non-existent and still retain full control of the business.

Dissolution is usually voluntary by the members (shareholders) if they have no further use for the company. You cannot dissolve a company if threatened with insolvent liquidation such as a winding up petition. Ignoring this can lead to prosecution and or a fine. Where a company attempts to dissolve without having addressed existing legal threats, remember you must write to them as part of the application to strike off.

The company can be restored – If a company with outstanding debts is dissolved using the strike off procedure then creditors can apply to have the company restored at any point over the next years. Once it has been restore they can then take enforcement action against the business for repayment of the debt. From both a legal and a common sense perspective, a company that has been dissolved has no legal personality, as it does not exist.

It therefore stands to reason that any proceedings started by or against such a company prior to its dissolution cannot continue provided the company remains dissolved. Assuming that you entered into the contract with your customer before the company was dissolved, then the company was never your customer.

So, your real customer is some other person or entity (perhaps the former owner or owners of the company ). Please also find links to information on Examinership and Receivership. Dissolved Company Assets: Once a company has been dissolved, the assets of the dissolved company become State property.