dcfcok

[DCFCOK]

If net assets from a subsidiary company are "hived up" into a parent company is it correct to say that the parent company has then assummed responsibility for payment of all and any of the subsidiary's unpaid debts? If so can a county court action to recover the debt be raised against the parent company?

[factor-fiction]

It depends on the circumstances but i think the answer is more likely to be 'yes' than 'no'. But you should probably taalk it through with a solicitor who will ask you for all the relevant information

[DCFCOK]

Thanks. I will do that. I have checked the group and subsid statutory accounts filed at companies house and they actually use the phrase "net assets were hived up".