Liquidator costs of transferring from LLP to Ltd?

by Readers Question

11:01 AM, 22nd March 2021
About 4 weeks ago

Liquidator costs of transferring from LLP to Ltd?

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Liquidator costs of transferring from LLP to Ltd?

Hi, I used an accountancy firm and 3 years ago now we transferred my 6 London rental properties into an LLP. A liquidator was appointed and the LLP is in liquidation.

There was a long delay as the liquidator wanted annual accounts. Now that’s done horrendous fees are being asked by the liquidators+ their solicitors for marriage and conveyancing for completing the transfer to the Ltd. co.

It’s working as we are talking like £9k. I am checking my files/emails to see just what was agreed when they were appointed. I would have got some estimate, but it looks like there is a “new” section that wasn’t covered by their quote.

I wonder if I can change liquidators/ retain the mortgage (the bank was aware of the process and agreed to no break fee on the fixed rate)?

Many thanks

Blair

Comments

Jon D

18:41 PM, 27th March 2021
About 3 weeks ago

Welcome to the world of financial services, AKA 'scalping'.

Let's see, 6 London properties, must be over the million.

Percentage-wise, 9k surely less than 1% of property values?
While it's true the suits are being opportunistic, I would avoid the stress, counter-sueing and the rest and just pay it, move on. Life is too short.


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