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1063 Company Restoration
 

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UK Limited Company Restoration

If a limited company has been removed (struck off or dissolved under the Companies Act) from the Register at Companies House it forfeits its assets and they pass (deemed to be bon vacantia) to the either The Crown, The Duchy of Lancaster or Cornwall. The only way a struck off or dissolved UK limited company can release these frozen assets is by way of an application to the Treasury solicitor and the Registrar of Companies under the Companies Act, for a company restoration.

To take this route to restore a company and continue trading you need to bring all of the company's affairs up to date. It is sometimes possible to make an application to release frozen cash or assets and immediately strike the company off again, which is less onerous and often more economically viable, as it avoids a full company restoration. Other reasons to restore a company could be to pursue an injury claim, pay debts, realise pension funds, realisation of assets for members (shareholders), complete a lease or property transaction.

It is worthwhile noting that prior to being struck off or dissolved a notice is placed by the Registrar of Companies in the London Gazette. It can pay to be vigilant if you have interests in one or more companies and one can subscribe to notification services to be on the lookout for such important events.

Contrary to popular myth the formation of a new UK limited company with the same name as the struck off or dissolved company is not an alternative to restoration of a company to the Register. It will be a different company - a new company formation is exactly that - a new company registration - and the assets of the previously dissolved company will remain beyond your reach unless the proper procedures are followed for restoration to the Register at Companies House. If you trade prior to being restored to the Register there can be serious legal repercussions, including personal liability for "company" debts and a host of contractual and other legal issues.

As online company restoration advisers and specialists we can assist you with the procedure for application to the Treasury solicitor and Registrar of Companies. We will deal with all of the legal matters and appoint experienced solicitors to submit your application to Court and the Registrar of Companies on your behalf.

More Information

In order to process the application forms you need to complete
a simple questionnaire in as much detail as possible.

Company restoration is subject to a 20-year limit from when the company was struck off. Please be advised that until a court order has been obtained, the company will not be restored. This is not guaranteed and in any event is not automatic.

A court date to restore the company is normally set between 4-6 weeks after the forms have been lodged with the courts. This interim period is necessary to make sure all the statutory forms for the company have been brought up to date for Companies House (for example Accounts and Annual Returns).

If the purpose for restoration is purely to release funds amounting to less than 3,000 in cash it is not always necessary to issue proceedings to restore the Company. This is because the Company does not intend to trade. Each case will be decided on merit and is at the discretion of the Treasury Solicitor.

The vast majority of cases are straightforward and the fees below will apply. In the event that the restoration encounters difficulties (if say a 3rd party were to oppose it) it is not possible to predict the professional costs, but no costs will be incurred without prior notification.

The fees are as follows :

Our fee 599
Court fee 130
Companies House legal fee 300 Approx.
Legal fees see below *

If no court appearance is required the fee will be 50 . If a court appearance is necessary the fee can be expected to be approximately 200- 250 depending on the urgency of the case.

If the registered office of the Company is situated in Lancashire or Cornwall there will be an extra charge of 100 payable to the Duchy of Lancaster or Cornwall as appropriate.

Please note that the above costs do not include any Companies House late filing penalties the company may incur.

We require an initial fee of 1,200 in order to process your application.

Should you have any queries please do not hesitate to contact us.

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Price: 1,200.00

 
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