If your company goes into insolvent liquidation, you need to apply for court permission to use the same company name for any new venture in the next five years. Our solicitors have years of experience dealing with court applications and can advise you on the implication and risks of re-using your business name.

To find out more on how we can help, call us on 0808 271 2602.

What Is A Phoenix Company?

A phoenix company is a new company which arises from the ashes of the old one, usually after a previous director or shareholder buys a company out of a formal insolvency process. The Insolvency Service investigates cases where they think directors have used ‘phoenix companies’ to avoid paying creditors, through deliberate misconduct or negligence. It’s important you follow the law if you’ve set up a phoenix company as failure to do so can have serious consequences.

What Can Happen If I Don’t Seek Court Permission?

You can face criminal and civil sanctions if you don’t get court permission for re-using your insolvent company name. This applies if you were a director of the insolvent company in the 12 months before it went into liquidation. The Insolvency Service could prosecute you if you’re a director, shareholder or even an employee of the new company,

The penalties for breaching the law are serious. You could be:

  • Fined
  • Imprisoned
  • Held personally liable for the debts of your new company.

To avoid these penalties, the best and safest option is to get permission from the court to re-use the name of your liquidated business. The court will look at your application and work out how responsible you were for the failure of the insolvent company. If the court accepts your application, the judge will give you permission to re-use the name.

How Can We Help?

Over the years, our lawyers have worked with many former directors to obtain Court permission to re-use a company name. If you do decide to re-use the name of company in Liquidation with which you have been associated, we can help. We’ll provide expert advice and guidance to make sure you comply fully with the law, especially when you’re registering or using the new company name.

We’ll send you a questionnaire to obtain the necessary information to prepare your court papers and submit your application. The application process can take between six to eight weeks and we’ll keep you updated at each stage.

With offices across the UK, we can help you wherever you’re based.

Contact Us

Our solicitors can help you with court applications and advise you on the risks of re-using your business name. Give our team a call on 0808 271 2602 or get in touch online.

Case Study - Re-use Of Liquidated Company Name

We helped a director to obtain Court permission to re-use the name of his old liquidated company.

By working closely with the client, we were able to understand his business and offer tailored legal advice. We collated the necessary information and sent the application to court quickly. We also contacted the Insolvency Service to exchange relevant information and obtain their consent to the application ahead of the hearing.

The court made an instant decision at the first hearing and granted our client permission to re-use the company name. The entire process took three months and our client can now be involved with the new business as a director.

"Our wealth of experience meant that we were able to provide quick advice to the client. By using our tried and tested questionnaire and refined document automation software, we were able to prepare the court papers efficiently.”

Byron Massarella, Solicitor

Awards & Accreditations

We're always proud to be recognised for the work we do for our clients and have been named as a leading firm in the latest legal guides - which provide information and recommendations about lawyers and law firms in the UK.

The Times Best Law Firms 2019
Chambers & Partners 2020 logo

Testimonials

We truly value the feedback we receive from both our clients and legal accreditation societies, such as The Legal 500 and Chambers & Partners.

Chambers & Partners UK Top Ranked Firm 2022

"The firm has the breadth to bring in experts and has an impressive ability to provide technical and practical advice, taking into account the commercial objectives.”

Chambers & Partners, 2022
Legal 500 UK Leading Firm 2022

“The team at Irwin Mitchell always provide a professional and swift response on all matters they are dealing with for us.”

Legal 500, 2022
Quote

“You have done sterling work on our behalf for which we thank you. I am already recommending you should anyone be in need of your services.”

MD of regional property agent

We Work Nationally

We have offices in major cities throughout the UK and our lawyers can arrange to visit you or your business in person if necessary. We also have international capability, with global links to other legal specialists.

See our latest health and safety updates before visiting our offices

Business News

Our lawyers are regularly asked to provide expert insight, advice and analysis for the national media. Take a look at the stories below to see what we’re saying, as well as some of the recent deals we have completed for our clients here in the UK and abroad.