Guarantees

[Tilly2]

If a company goes into liquidation /bankruptcy (I don't know the correct terminology) and the starts up again under another name, do the guarantees, offered by the first company still stand?

[chrissa1]

I don't think there is a law unless fraud is proved, or the directors are made bankrupt.

[themas]

As someone else said, the new company is a separate legal entity from the old one. If your guarantee was just from the old one (& is not backed by an insurance policy) then it will not transfer to the new company. Any claim you need to make under the guarantee will be a claim to be submitted to the liquidators of the old company & you will be classed as a creditor of that company. Whether you eventually get anything back will depend on whether the liquidator is able to realise any assets of the old company sufficient to pay out something to the creditors.

None of this has anything to do with whether there is a law to prevent shyster directors doing what you think has happened here. If there is such a law, it is up to the liquidator to see it is applied. I suggest you contact him/her.

[Tilly2]

Thank you. How do I find out who the liquidator of the company is, themas?

[themas]

You should be able to get some information - or advice on where you can get the name - from either Companies House or the Insolvency Service. Try Companies House first as they should be able to tell you whether the company has yet been liquidated &, if not, what it's status is.

Look at both the websites & you should find helpline numbers.

[Tilly2]

Thank you, themas, I will have a look at those.