Hi,
Due do the economical crisis, many factories closed down. Suppliers unable to collect full amount of money from these companies. All these incidents lead to trust problems between suppliers and factory owners.
I own a small factory. Our company has cash flow problems for many years thus we own a lot of suppliers money. These suppliers refuse to give terms for payment and even refuse to sell goods to us even on COD terms. Although tough and struggling and on the edge of shutting down, but we are still running.
Some suppliers keep pestering us for payment (which is ok, as we really own them money) and some keep cursing us going to shut down. If these rumours reach our customers, this will reduce our chance of surivior as customers will no longer trust us nor give us jobs. Is there anyway we can forbid our suppliers spreading negative news of our company. "IF" our company really goes down due to these rumours which become truth over time. DO we have a case?
Another question...
My is a private limited company. If my company shut down and sell all my belongings, but still unable to clear all debts. Does creditors have the right to sue the MD, share holders or directors?
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