Court Order Restorations Service
Court Order Restorations Service
Companies or LLPs have to apply for a court order restoration if they were dissolved voluntarily. That is to say; they submitted a DS01 or LL DS01 or they went into voluntary liquidation. Court Order restorations are more expensive and take longer than administrative restorations because they involve the Courts. Most of the enquiries we receive are made by company owners who have dissolved a company using form DS01 and overlooked assets that are owned by the company. These assets are usually, bank accounts in credit, leases, titles to land, tax refunds, insurance claims, domain names, websites and intellectual property. Once a company is dissolved, any assets it holds become ownerless (Bona Vacantia) and the property of the Crown. Restoration is required to reclaim assets that have become bona vacantia. Our fixed price service is restricted to dealing with non-contentious cases. For a company to be eligible for restoration, it must have been dissolved within the last 6 years. An exception arises where the applicant seeking to restore the company is pursuing a personal injury claim against the company.
The following interested parties can apply for a Court Order:
- Former directors, shareholders, guarantors, trustee of the employee’s pension fund and the company’s liquidator.
- Ordinary creditors or a person who is a creditor of the company by virtue of a contractual agreement with the company.
- A person who shares an interest in land or property with the company.
- Anyone who appears to the court to have a valid interest in the company.
The procedure for a Court Order Restoration is as follows:
- We will prepare a claim form which will be submitted with a Court Fee of £280 to the appropriate Court.
- The Court will return a sealed acceptance form with a claim number and a hearing date. The hearing date is usually fixed 3 months ahead to allow time for other documents to be prepared, agreed and submitted. It is hoped that 3 months is long enough to avoid hearings having to be stood over.
- We will prepare a witness statement.
- We send a copy of the sealed acceptance form and claim number with the witness statement and the restoration fee of £300 to Companies House and a copy to the Treasury Solicitor. Your claim form and witness statement will be accompanied with the following:
- Proof of your claim,
- The last financial statements submitted to Companies House,
- Full financial statements at the date the company was struck off (if they differ from the last accounts).
- The Treasury Solicitor will respond to your claim by setting out the requirements of the Registrar of Companies. You may be asked to supply more documents supporting your application and an agreement to various conditions (The required undertakings). There will also be a waiver letter issued by the Treasury Solicitor.
- If you have been asked to supply more documents, we will send them to the Registrar of Companies with a copy to the Treasury solicitor. We will also send confirmation to the Treasury solicitor that you have sent the additional documents to the Registrar. We normally send a duplicate set to the Treasury solicitor as confirmation.
- We prepare a statement confirming that you will accept the undertakings and send that to the Treasury solicitor and the Registrar of Companies.
- The Treasury Solicitor will send you a draft order and form of undertaking. The form of undertaking is signed by you and submitted to the Court together with the witness statement, proof of claim, financial statements and a copy of any other documents you have been asked to provide.
- If the matter is not agreed by the time of the first hearing, we can apply to have the hearing stood over. We will need to give a reason for the delay. Providing you have all the forms requested i.e financial statements, proof of claim etc, there should be no need for a delay.
- Once the requirements of the Registrar of Companies have been met the Treasury solicitor is able to approve the application prior to the hearing date, a consent order will be filed for approval by the Court.
- When the Court agrees your application, it will send you a sealed copy of the order.
- A copy of that order is then sent to the Registrar of Companies.
According to the Court practice notes of 2012, there is no need for an applicant to attend the Court hearing as conditions can be agreed prior to the hearing date.
You should have the following documents ready before starting the application:
- The company’s last financial statements.
- Financial statements at the date the company was struck off.
- Evidence of the amount you are claiming, such as a bank statement showing the balance that is now bona vacantia or land title.
- Articles of Association and Certificate of Incorporation
- If you want the Company or LLP to resume trading, you will need to file all the outstanding Annual Accounts and Annual Returns and pay any penalties for late filing.
- If you are simply restoring the Company to recover assets, it should not be necessary to file outstanding Accounts and Returns.
- The Court may waive any outstanding penalties if you are simply restoring the assets and not trading.
- The original company name may not be available if another company or LLP has registered a similar name. A dissolved company does not have priority and will need to change its name.
Discretionary Grants - It is possible to make an application to the Treasury Solicitor for a discretionary grant. If successful, you will be able to recover some funds without making an application to restore the company to the Register. The maximum grant is £3000 with a deduction of £300 + 5% of the value of the funds. For grants of less than £750 there is no percentage retention.
Non-UK residents will be required to have a UK POBox address to receive post and from which letters can be sent to the Courts. We will set this up for you, the monthly cost is minimal.
Unfortunately, payment to the Court and for the restoration fee to Companies House can only be made by cheque. If you are not able to issue cheques drawn on a UK bank, we can make the payment on your behalf. We charge £15+vat for each cheque we issue.