Silvio Dante
Registered User
- Messages
- 127
Hi,
Technical question
I have recently been discharged from bankruptcy
In my original SOA I disclosed shareholdings in three companies
Two have subsequently been wound up
However, one is still trading
What information I can gather is that it is not profitable and is paying down a good bit of debt very slowly but it might be profitable within two/three years providing the bank continues to support.
I have never received a cent in dividends or anything in 7 years (gave an initial investment at start up of about 5% of company).
To the best of my knowledge the OA has never contacted the company to look to sell the shares and tbh I doubt they'd have got anything.
The proprietors know me and would be appreciative of my initial investment so it's doubtful they would have agreed to pay anything for my shares.
No one else would likely touch them (usual stuff, too much uncertainty, still debt involved, unprofitable to date etc).
Anyway
Anyone any idea what happens form here?
A decent guy I know says he thinks it's similar to family home.
If it cant be sold for a profit for creditors it has to revert after a period.
?
Technical question
I have recently been discharged from bankruptcy
In my original SOA I disclosed shareholdings in three companies
Two have subsequently been wound up
However, one is still trading
What information I can gather is that it is not profitable and is paying down a good bit of debt very slowly but it might be profitable within two/three years providing the bank continues to support.
I have never received a cent in dividends or anything in 7 years (gave an initial investment at start up of about 5% of company).
To the best of my knowledge the OA has never contacted the company to look to sell the shares and tbh I doubt they'd have got anything.
The proprietors know me and would be appreciative of my initial investment so it's doubtful they would have agreed to pay anything for my shares.
No one else would likely touch them (usual stuff, too much uncertainty, still debt involved, unprofitable to date etc).
Anyway
Anyone any idea what happens form here?
A decent guy I know says he thinks it's similar to family home.
If it cant be sold for a profit for creditors it has to revert after a period.
?