Claire Sandbrook Shergroup - HD CCTV
 
 
The debtor has ceased trading – what are my options?
 
The first question to ask is "what do we mean by ceased trading?” Are we talking about a business that has left its trading address, leaving an empty shell? Or a shop or restaurant which has a "Closed Until Further Notice" on the door? Does the apparent "ceased trading" situation mean your debtor has gone into some sort of insolvency?

You can check whether the individual or company is subject to any insolvency by making some easy checks. For an individual, you can check the Individual Insolvency Register (see Individual Insolvency Register) and for a company, you can check the Register at Companies House (see Companies House WebCheck).Both these registers will show if your debtor is insolvent.

There is no central register to check the solvency of a firm/partnership - but instead you should check the names of the proprietors and see if they themselves are subject to some sort of insolvency procedure by using the Individual Insolvency Register and Companies House mentioned above.

If no insolvency order is showing then you may want to take further action to pursue your claim. This further action may include:

Serving a statutory demand - if the debt is not paid or disputed within 21 days and if the debt is more than £750, you can present a petition to the court for bankruptcy/winding-up - and we can offer you a full service on this through Shergroup Legal

Issuing a claim in the court and then entering judgment – again we can offer you a full service from the start of the claim through to the enforcement of your judgment

Shergroup Enforcement also has a separate legal team who can also advise on all the other court based enforcement options.

If you would like more information on any aspect of enforcing your judgment please contact us on all our open channels

 
 
 
 
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