There are a number of circumstances which can result in a limited company or limited liability partnership being struck off the Companies Registry. In practice the most common scenario is where a company has failed in its obligations to file reports and accounts with Companies Registry annually.
If a company has been struck off the Companies Registry this will eventually result in the company being recorded as “dissolved” and the company will be considered to no longer exist. One of the significant consequences of a company being dissolved is that any assets which it still owned at the date of dissolution will now vest in the Crown under the principle of bona vacantia and this vesting will prevent the company from being able to deal with its own assets thereafter.
However, it is possible to make an application to the Court to obtain an order to have a limited company restored to the Companies Registry which will then allow its shareholders to deal with any previously undistributed assets such as funds held in a company bank account or land and property.
Due to the number of restoration applications that our firm has made over the years we have developed a streamlined procedure whereby upon receiving your instructions we can quickly engage with the Court, Companies Registry and the Crown Solicitors to ensure that your application to restore your company is presented to the Court without delay. On receipt of your full instructions we aim to have the application and supporting paperwork lodged in Court within 7-14 days and we will also attend the hearing of your application on your behalf.
If you are a stakeholder in a limited company which has been dissolved and wish to explore the possibility of having that company restored to the Company Registry then please make an appointment with our Insolvency Department.