Quote:
Originally posted by European Lee
Errrr actually...
if a limited company goes under in the UK and has assets (as the funds in their bank accounts would be) those assets are legally supposed to be used to clear their debts. However, the only thing you cant do under UK law to a LTD company is try to aquire assets of the individual directorys of the said company. Also, shareholds of any LTD company may also be liable for unpaid shares etc etc etc...
So in fact you could take legal proceedings against WSB due to the fact they owe you money (also known as a debt of the company.)
Didint attend business management courses for nothing it seems 
Regards,
Lee
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We have a UK limited company ourselves (as well as Spanish and US limited companies) and over the years have been owed money by other UK limited companies that have gone bust. The bottom line is don?t hold your breath as the preferential creditors will be a very long and lonely list and any legal action would just be a way of burning a lot more money for very little chance of return.
