Strike Out Company Resolution For Free

Directors could be disqualified and become unable to become a director for 15 years in the future, as they have failed to act in the right and proper way. Any debts the company holds could become the liability of the directors, as they have failed to close the company in the correct and lawful manner.

When the process is voluntary, the active proposal to strike off refers to the process by which the company directors petition the shareholders to close the limited company. This formal request means that shareholders of the company are able to vote on whether the business should be struck off or not.

Implications for Directors When a Company is Struck Off Once the company is struck off the register, there is no company and, therefore, no directors. Directors should therefore take immediate action in the case of strike-off action if this is something you don't wish to happen.

The compulsory strike off process is usually initiated by Companies House in response to a failure to file accounts or an annual confirmation statement. A notice will be published in the Gazette declaring that the company will be struck off in three months and removed from the Companies House Register.

Consequences of Striking Off a Company This means that it cannot enter into any contracts, hold bank accounts, or own property. The directors and shareholders of the company also lose their limited liability protection, which means that they can be held personally liable for any debts or obligations of the company.

Once a company strike off form has been filed, the company can no longer trade, sell company assets or become involved in any other business activities. For all intents and purposes, your business is closed. If your company is found liable for the above, you could face severe penalties.

Compulsory strike off consequences Your company ceases to legally exist. You will no longer be able to dispute the strike off. You will be denied access to financial support. Directors may face investigation into potential misconduct that led to the strike off (depending on the circumstances)

A Revoking Resolution may only be adopted before the earlier to occur of (i) execution and delivery of a definitive binding agreement providing for a Change in Control that is concurrently or subsequently consummated, and (ii) a duly adopted resolution of the Company's board of directors or any committee thereof ...