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T O P I C R E V I E W
wibblewobble
Posted - 28 September 2009 : 15:39:47 I am a sole Director and 60% shareholder of a company. My brother is 40% shareholder and likely to go bankrupt shortly. Are there any implications to my company as I presume his shares will be classed as assets and the receiver will wish to sell them? The articles state that shares have to be offered to the company if holder wishes to sell them so i am hoping it will be a simple case of offering to buy them?
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 28 September 2009 : 16:30:34 Hi
Firstly what a wonderful screen name !!!
you are correct in thinking that his shares are assets and as such would belong to the official receiver. he would also need to resign as a director - 288b at companies house -.
I would recommend completing these transaction before bankruptcy and providing details to the OR, rathe than afterwards. At least then you are in control.
Do the shares have any intrinsic value or is it the nominal £100?
