UK Company Restoration by Court Order Procedures and Fees
Unless otherwise indicated, the UK company stated in this quotation refers to a private company limited by shares formed and incorporated in UK in accordance with the United Kingdom Companies Act 2006.
Restoration by Court Order Procedures described below apply to restoration of UK companies that have been voluntarily struck off in accordance with Section 1003 of the Companies Act 2006.
Summary
Once a UK company was dissolved voluntarily, the only possible solution to recover the frozen company assets or continue to trade is to get a court order to restore the company. Only companies that have been dissolved within the last six years can apply for restoration to the Register. If a company has been dissolved for more than six years it unfortunately cannot be restored. The only exception is where a company is being restored in order to pursue a personal injury claim.
The most common reason to restore a dissolved company is to recover the assets which were belonged to the company have been passed to the Crown as ‘Bona vacantia?ownerless goods). The other reason is to continue trading. The applicant has to decide the applicable reason at the beginning of the process.
Our service fee for handling the application for restoration is GBP 1,250. The fee covers payment to the court, payment to Registrar of Companies and our professional services.
Normally, it takes about 3 to 4 months to complete the restoration procedures and to bring the struck-off company back to the Register by court order.
The fee quoted here is for general reference only. Kaizen will confirm the final fee after reviewing the corporate documents.
- Fees and Costs
Our service fee for handling the application for restoration is GBP 1,250. The fee covers payment to the court, payment to Registrar of Companies, and our professional services.
The fees listed in our quotation will be for reference only and may be subject to change if confirmation statement filing fees and late filing penalties are applicable, or, in the circumstances, that the company needs any other course of action.
Time to take to complete the restoration processes is 3 to 4 months. Once completed, the company will be listed back to the Register.
- Other Possible Costs not Included in Our Professional Services
(1)
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Statutory Documents Fee and Penalty
If the intention is to strike off the company after releasing the assets and if this was initially stated in the Witness Statement, there is no need to submit accounts and Confirmation Statements. However, if the intention is to keep the company active on the Register, either continue trading or maintain it as a dormant company, all outstanding accounts and Confirmation Statements will have to be submitted to bring the filing records up-to-date.
Our fee for preparing and filing of Confirmation Statement is ?50 and our minimum fee for preparing and filing Accounts is ?00, the final fee is subject to a fee agreement.
Companies House applies penalties for late filing of Accounts. The longer the time the Accounts was overdue, the higher the penalties will be charged. The penalties for a private company currently are:
(a) Not more than 1 month: GBP150
(b) More than 1 month but less than 3 months: GBP375
(c) More than 3 months but not more than 6 months: GBP750
(d) More than 6 months: GBP1,500
(e) Late two years in a row: Doubled
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(2)
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Registered Office Address
If in case your company requires to have a new registered office address, Kaizen can provide registered office address at a cost of GBP 300 per annum though the fees quoted above do not cover this service.
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- Who is Eligible to Apply for Court Order
A former director, member, creditor or liquidator;
A person who had a contractual relationship with the company or who had a potential legal claim against the company;
A person who had an interest in land or property in which the company also had an interest, right or obligation;
A manager or trustee of the company's former employees' pension fund;
A person who appears to the Court to have an interest in the matter.
- Payment Methods
Upon receipt of your confirmation of engagement, full payment in advance is required before the service commenced, no refund of the service fee can be made.
We accept cash, HKD check, TT, and credit card through Paypal. An extra handling fee of 5% will be charged if paid by Paypal. Please put our invoice number on the message section when making payment and send a copy of the remittance receipt to us for our records.
- Alternative Name
If at the date of restoration the companyy's former name has been taken, it must be restored to the Register under an alternative name, as if the application to register were a notice of change of name.
- Process of Restoring by Court
(1)
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We discuss with you and help to establish the necessary information for restoration;
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(2)
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We prepare the claim form for you;
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(3)
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We prepare the witness statement for you;
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(4)
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We send the claim form and witness statement to Court;
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(5)
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Once Court returned the issued claim form, we will send a copy of the issued claim form and signed witness statement to the Registrar of Companies and the Treasury Solicitor;
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(6)
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After receiving Treasury Solicitor replies, we will submit the required documents to the Registrar of Companies and confirm this in writing to the Treasury Solicitor;
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(7)
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We confirm in writing to the Treasury Solicitor that the required undertakings will be given to the court;
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(8)
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We then send payment of the costs of the Registrar of Companies to the Treasury Solicitor;
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(9)
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We then prepare witness statement exhibiting the waiver letter and send the statement to the Court;
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(10)
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When Treasury Solicitor sends us a draft order and form of undertaking (if appropriate), we will present the draft order and form of undertaking to you for signatures;
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(11)
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After the draft order and form of undertaking (if appropriate) are properly signed, we will send the order and form to the Court;
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(12)
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Once the application process is completed, Court will send us sealed copies of order;
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(13)
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We will send a sealed copy of the order to the Registrar of Companies to restore the Register;
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Restoration by court order can be complicated and lengthy. The whole process can take up to or more than 4 months. As always, we recommend you seek advice from a professional and legal specialist if you need help.
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