Company Restoration
An application to restore a dissolved Company must be made within 6 years of the dissolution date. Once dissolved the assets of the Company are bona vacantia and owned by Crown. After 6 years the assets will not be recoverable.
Here we look at the process of restoration by way of a Court order only.
The Court may make an order for the temporary restoration where the purpose of the restoration is to regain an asset or monies held or to pursue a claim.
The Court may also restore a Company where the director or shareholder aim is for the restored Company to continue in business. In effect reinstating the Company is as if it had never been dissolved.
An order for restoration might be pursued by any of the following-.
A former director or member of the Company.
Anyone who has an interest in Property or Land owned by the Company.
A Creditor of the Company to recover assets or monies owed by it at the time of dissolution.
A former employee of the Company.
The Order for restoration will require the following:
The drafting of a claim form & a witness statement in support.
Filing the claim form in Court.
On the Court issuing the claim form and setting the return date for the hearing of the application, service on the Treasury solicitor (Government Legal Department) representing the Crown.
Service of the claim form and evidence on any other interested parties.
On-service negotiations with the Treasury’s Solicitors (Government Legal Department) for the Crown to agree on a draft of the Order for the Company’s restoration.
Preparation of and service and filing of any other additional witness statements that will be required.
Filing agreed draft Order at Court.
Communication with Companies House.
Attendance on the Court.
The whole process in total should not exceed more than four months.
Once the order has been agreed upon and filed at Court for approval by the Judge, once approved it will be sealed by the Court and returned for filing at Companies House.
Once filed at Companies House it will take approximately 10 days for the commencement of the process of the Company being restored to the register of Companies.
Rice-Jones & Smiths will only be too pleased to advise and assist in seeking an order to restore a dissolved Company.
Should you require advice or assistance, please contact Michael Ellis on 0207 269 9972.
