Surely there is a law against doing that.They are deliberately avoiding the authorities charges of malpractice in doing this. This is pure running away from legal culpability rather than a no money issue.
Like many limited companies in the UK who have taken out a Cbil or bounce back loan they will avoid their legal obligation to repay simply by folding.Surely there is a law against doing that.
This is something I have always struggled to understand and have seen smaller companies lose out because of this.Like many limited companies in the UK who have taken out a Cbil or bounce back loan they will avoid their legal obligation to repay simply by folding.
Trump's done it six times.This is something I have always struggled to understand and have seen smaller companies lose out because of this.
I once worked in Devon and the camp site I stayed on changed ownership three times in the 18 months I was there and left a mountain of debt. The chalet my brother stayed in burnt down through an electrical fault on the oven. and to avoid paying compensation for the gear they lost, he went bust.
I dare say he didn't have any insurance.