Saudi said:Cheers Aimee, have been holding off the solicitor route until I've researched it properly to find out the most cost effective method. A couple of the apartments have sold but at a serious undervalue.
Have you been involved in a similar problem?
It the company was struck off by the CRO for non filing of returns, any property is then vested in the Minister for Finance (ie reverts to the state) as the company no longer exists.cro.ie said:The consequences of strike off are very serious for a company that is still trading:
While it is possible in most instances to have a company restored to the register, this can be an expensive procedure.
- The assets of the company become the property of the State on dissolution of the company;
- The company ceases to exist as a legal entity with effect from the date of strike off and dissolution;
- The protection of limited liability is lost with effect from that date, and if the business formerly carried on through the company is continued, the owners are trading in their personal capacity;
- Banks should be unwilling to lend money to an entity which has, effectively, ceased to exist;
- There can also be unpleasant consequences for directors of such companies in that a disqualification order may be made against them by the High Court on the application of the Director of Corporate Enforcement.
Saudi said:Hi Mf, the common areas were never transferred to the management company so I was wondering if there was a way of setting up a new company to take the common areas in charge.
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