Directors Loan Accounts
Directors Loan Accounts with PLS Solicitors
PLS Solicitors specialise in providing advice and assistance to directors faced with demands for repayment of alleged overdrawn loan accounts and defending such claims if court proceedings are issued.
When a company go into insolvent liquidation any liquidator appointed has a duty to investigate the company’s affairs. The purpose of such investigation is manifold but one of the first things the Liquidator will consider is whether any of the former directors have overdrawn loan accounts that need to be reclaimed.
If the loan accounts are overdrawn, former directors can expect an immediate demand for payment. However, the sum demanded by a Liquidator may not be a true reflection of what is due and owing. In some cases, nothing is owed. Directors need to consider what they can offset against overdrawn loan accounts to reduce or extinguish their liability.
PLS Solicitors specialise in advising on the complex area of company insolvency, especially Directors Loan Accounts. We offer a friendly, efficient and effective legal advice on any area of company insolvency.
- We explain the process in plain english, no legal jargon.
- We adopt an understanding and methodical approach when dealing with each individual case.
- Our office hours are 9am to 7pm Monday – Friday and 9am to 4.30pm Saturday and Sunday
- We are fast. Because of our speed, we work as a nominated solicitor for many of the UK's largest developers.
- We have a team of 100+ staff based in the UK
- All work is carried out in-house by a member of our team.
- Between our directors we have over 100 years worth of conveyancing experience
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