Can I re-use a liquidated company's name ?
Posted on October 20, 2014 by Patrick Wadsted
It is an offence under S.216 Insolvency Act 1986, for a director (or shadow director) of a company in the 12 months preceding insolvent liquidation to be a director of a company with a similar name or a name which would be considered to be misleading for a period of five years following the insolvent liquidation.
For instance if you were a director of Acme Surrey Building Shop Limited (“ASBSL”) trading as “All Whatits Construction” and it went into liquidation you could not commence trading as a director of a new company called All Whatits Construction Limited (“AWCL”),
- unless you obtained the leave of the Court or
- AWCL had been incorporated for at least 12 months prior to the liquidation of ASBSL and
- had been trading for 12 months.
There are definitely circumstances where it is allowable to reuse a liquidated company's name.
If this is something that you are considering, our Licensed Insolvency Practitioners in Croydon, Bournemouth and London can explain your options and discuss with you in greater detail the rules which will apply, either face to face or over the phone.