Posted by
filial
16 yrs ago
I loaned money to a company in HK. The company went bankrupt a few months ago. I want to chase the directors for the debt but don't know if this possible. We had an agreement signed by all directors but it was not written if they were personally liable for debts.
I have asked a lawyer but the initial costs of pursuing bankrupting the directors are so high. As I dont want to spend a lot of money on this unless I will definitely get a return, any advice if it is likely to gain by chasing directors of a wound-up company?
Any advise is appreciated
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Is it a limited company? And was the loan to the company?
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So, even if I think the directors misused the money I have no claim? I had an agreement that assets would be secured on this loan but as the company has already, am I wasting my time?
I have been told I can raise a bankruptcy petition against the directors. However, unless I can prove they personally owe then I will be liable for all the legal fees Plus the cost of filing petiiton. I only have a verbal personal agreement
Of course, i can hire a lawyer but don't want to if there is no hope Any comments appreciated
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kyber
16 yrs ago
i know one or two, if can give more details , such as the amount, I can request them to work on a comiision basis only.
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hey, if you loaned money to the company, it should be a separate entity from the owners, so the liabilities are not the owners. might be best for you to check out what kind of company it is before you spend $$ to take action. If you do not have a case, its hard to get anything out of it at all
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