I have recently close my coffee shop. I bought the shop a year ago and took transfer of all 4 staff's long term contracts, using my S.L. Company.
I am the administrator and there is another director, we each own 50% of the S.L.company.
The staff were given 30 days notice.
We have no money to pay them redundancy or compensation, the company has been making a loss all this time.
The staff are now suing The S.L. company and the 2 directors/ owners of the shop. We own our home in Spain, can they seize our property in Spain and also our property in UK ?
We thought they can only sue the company. The company has no money.
We have no money to transfer the Spainsh property and we can't find a buyer either. We are very worried the courts will take our property and sell it for for whatever they can get to pay the ex staff compensations. We will lose everything.