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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
 Posted - 24 November 2008 : 09:02:56
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Hi Paul
if the other company is a Ltd company then they would be entering a CVA ( Company Voluntary Arrangement) and in theory would have no impact upon you.
However if your friend has a Trading As ( sole trader business ) business or if the other Ltd company has personal guarantees if something goes wrong then they may look at his assets which would clearly be his holding in your company.
I would really encourage you to have a frank conversation with your partner and understand what he is doing and then we can give you fuller answers.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
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