Author Topic: HOW DO I STAND  (Read 2097 times)

jmg1414

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HOW DO I STAND
« on: Sep 18, 2008, 03:42:56 PM »
Hello there..I am sure that the advice I am looking for is already on this forum but where to start looking?
Thirteen months ago I gave some money to a family member to help secure a pub tenancy....There was nothing in writing but it was about  half the money needed to secure the purchase of the fixtures and fittings...As many people are aware during the last year things have got dire with 20/30 pubs closing every week..Notice has been given and the last date for the lease before it reverts to the brewery,if no new tenant comes forward is December....creditors are now pushing mainly electricity and we may have to close the doors.
The pub is in my relatives name and all the debts and what we need to know is if she makes herself bankrupt how would I stand as a creditor...There should be nearly my share left to come back from the brewery when it is finalized and she wants to be sure that I get it and it doesnt go to other creditors...Do we need to put a charge on the fixtures and fittings? Do we need a note to say I am owed this money? Is there a way I can be sure of receiving my money back...

gordonblair81

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Re: HOW DO I STAND
« Reply #1 on: Jan 16, 2009, 01:34:00 PM »
you are not legally classed as a creditor as you do not have any written agreement in place so therefore it is just a family/friends loan si in essence it is all down to her to arrange to re-pay the monies to you.

Re: HOW DO I STAND
« Reply #2 on: Feb 09, 2009, 10:20:59 AM »
It may not be too late to have yourself registered as a creditor. You should speak to a bankruptcy specialist, or solicitor who deals with bankruptcy.
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