In most cases the company will have been struck off simply because they did not file annual returns or accounts, or the directors may have had the company struck off only to realise afterwards there was still an asset in the company.
Once a limited company is dissolved, it no longer legally exists. As a result, the bank account is frozen and the assets of the company including the monies in the bank account pass to the Crown. If you then need to recover assets from the company – or wish to continue trading – you need to have the company restored.
Depending on why or how your company was struck off there are two paths to restoration
Administrative Restoration for a struck off or dissolved company can only be used in certain circumstances for example it would be appropriate, where the company has been struck off by Companies House for failing to file accounts or an annual return and was in operation at the time of strike off. There is a six year limit on this type of restoration.
If you do not qualify to make an administrative restoration because for example, you applied voluntarily to strike off the company, then application must be made to the High Court. As with the Administrative Restoration, where is a 6 year limit on restorations. However, there the company is being restored in the case of a personal injury claim; the time limit is 20 years.
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