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  • Legal FAQs

    LLP strike off at Companies House - red flag?

    Has anybody had any dealings with Nicholas Wallwork

    I was recommended to look at his funding opportunity,( Redbrick wealth)however on closer inspection it appears he has applied for voluntary strike off within 14 months of an LLP being set up! Which appears to be a company used to purchase a building with investors money.(one that has not been completed)

    Does this mean that the investors would have lost all their money??

    any advise welcome

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    I should think so...a fool and his money easily parted!

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    Not it doesn't.

    I answered this question on your other thread.

    Companies can be legitimately struck off at the request of their owners, for example if:

    > the company is a subsidiary and no longer needs a separate name;

    > the initial business idea behind the company proved unfeasible

    > the company has served its purpose - such as an SPV to build a development that is then sold.

    > the current directors are retiring and nobody is taking over

    However, voluntary striking-off is usually not suitable for a company with a trading history and can occasionally be seen as an easy alternative to formal insolvency proceedings.

    That is why you need to ascertain the reason for the striking off before reaching a conclusion.

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