Company A is a small single-member company service company that has one overdue debtor, the Revenue Commissioners. The company would only realistically be able to pay the debt over a two year period. If Revenue demanded full payment immediately, the company would not have the resources to pay the debt. The assets of the company are minimal.
If Revenue plays hardball, can the director simply liquidate Company A and set up Company B like a phoenix the following week without repercussions?
If Revenue plays hardball, can the director simply liquidate Company A and set up Company B like a phoenix the following week without repercussions?