Leeds
this old post seems rather hollow now. Who exactly were these experienced investors, cos they seem far from it?
https://www.pinballnews.com/site/2017/06/04/andrew-heighway-steps-down-from-heighway-pinball/
(Topic ID: 106728)
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Alien (Heighway Pinball)
Heighway Pinball, 2017
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https://www.pinballnews.com/site/2018/04/26/heighway-pinball-faces-liquidation/
also useful article - yes why liquidation rather than administration - it usually means the business is a basket case. It will be interesting to see what the current owners try to do. They have pumped in £100,000's - so are the biggest losers. Are they going to walk away and write ot off, or will they try to wring the last penny out of any remaining assets (licence, stock, part built machines, and Game knowledge/IP) ?
This is a useful article for anyone owed money by Highway Pinball
https://www.realbusinessrescue.co.uk/business-insolvency/trading-insolvent-director-responsibilities/can-directors-be-held-liable-for-company-debts-in-a-ltd-company
In particular:
Instances in Which a Director Could Be Held Liable For Company Debts:
Directors' personal liabilities for company debts can be proved if it can be shown that they performed any inappropriate actions:
Continuing to pay shareholders dividends whilst the company is insolvent
Using fraudulent methods to raise the funds needed to repay creditors (i.e. – obtaining financing using misleading or inaccurate information, or collecting payment for goods or services that could not be delivered)
Withdrawing and/or using company funds for non-business activity; this is an offence known as misfeasance
Entering into a personal guarantee and then breaching its terms
Disposing of the company's assets at undervalue or no value
Quoted from Durzel:All of that doesn't excuse their almost complete absence of customer service towards Cointaker or individuals who just wanted parts to fix their broken machines, or that email that they sent to however many people (several people on here got it) just recently offering the chance of a "cancelled LE with green trim" if people paid up in full. That went out after the point at which they must've known the company was terminal. Who knows how many people lost money on that...
See my post above - anyone who recently paid money will have a very good case against the current Directors personally as well as against the company. "..collecting payment for goods or services that could not be delivered"
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