20 June 2007
My client is a director and majority shareholder of a trading company. Shortly after setting up the company, he made a £100,000 cash injection into the company and this was recorded as a credit balance on his current account (i.e., included in other creditors on the company's balance sheet). The client subsequently wanted another round of funding and he found an investor who agreed to invest in the company on the proviso that the director's loan be waived.
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