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Can a fraudulent company go into liquidation?

April 26, 2017answer Business COMPANY Finance fraudulent Liquidation

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Can a fraudulent company go into liquidation?

2 Answers

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The liquidator examines the business and will investigate any supposed fraudulent business practise. They will often then bring proceedings if it is found that the business was fraudulently trading, undervaluing transactions or giving unfair preference etc. It might be worth getting in touch with trading standards to see where you would stand on making a claim on your refund. The police also will work with liquidation companies if they suspect or know of any fraudulent trading, so it is a matter for police and liquidators. Nevertheless, I hope you get your refund as things like this are always unfair on the customers.

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That company has gone into bankruptcy and a company has been appointed as liquidator to pay whatever is left to creditors. A report has to be made by the creditors to the police for suspected fraud by the company. This is another issue.