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Insolvency query

When a charity goes into liquidation as insolvent can the liquidators insist on getting reports etc from the company secretary after it closes?

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    edited January 2021
    This might help, although not specific to a charity;

    • When a business enters liquidation, the company secretary is likely to assist in the preparation of the Statement of Affairs. This essentially informs creditors of the reasons why the company has entered insolvency. It includes details of all assets, liabilities and debts, provides information on any fixed or floating charges held by creditors, and includes a list of all trade creditors, suppliers, and employees.

    • As an officer of the company they’re also required to provide any information requested by the liquidator, and must cooperate fully during the liquidation process. The office-holder is likely to require financial and administrative documentation including leases, contracts, insurance policies, and employee-related information, and the company secretary may be instrumental in providing this paperwork.

    • A company secretary can held accountable for any breaches of the Companies Act, and in the same way as directors, may be held personally liable for financial losses incurred by the company or its creditors due to negligence.

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    Rob7Lee said:
    This might help, although not specific to a charity;

    • When a business enters liquidation, the company secretary is likely to assist in the preparation of the Statement of Affairs. This essentially informs creditors of the reasons why the company has entered insolvency. It includes details of all assets, liabilities and debts, provides information on any fixed or floating charges held by creditors, and includes a list of all trade creditors, suppliers, and employees.

    • As an officer of the company they’re also required to provide any information requested by the liquidator, and must cooperate fully during the liquidation process. The office-holder is likely to require financial and administrative documentation including leases, contracts, insurance policies, and employee-related information, and the company secretary may be instrumental in providing this paperwork.

    • A company secretary can held accountable for any breaches of the Companies Act, and in the same way as directors, may be held personally liable for financial losses incurred by the company or its creditors due to negligence.

    Thanks. My wife is being chased for info she doesn’t have, which the liquidators should have asked her for months ago when the charity was closed down. The irony is they have all the records but don’t seem willing to get the information themselves.
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    One would presume the secretary should provide the accounts, otherwise the charity has zero protection.
    Someone can simply say sorry all the money has gone, but I can provide zero evidence that it is all legitimate.
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    There was money left, just not enough to carry on with no income. The income ended with the covid regulations stopping them being able to carry on. 
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    edited January 2021
    Oh and thank you. @Rob7Lee and @Covered End
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