Treasury Solicitor Discretionary Grant
Reclaim Your Assets Without Restoring your Company
If a company is not eligible for restoration, or if restoration through the courts is the only option, then the Bona Vacantia division of the Government Legal Department (formerly the Treasury Solicitor) may consider issuing a discretionary grant.
A grant will only be made out of money received by the department - they will not usually give a grant of an asset, or of money received from the sale of an asset.
If it is possible for the company to be restored through the courts then the maximum grant that may be offered is £3,000. From this, the department will deduct £300 in legal fees, as well as claiming 5% of any amount above £750 as a 'reservation' to protect against any future claims.
The Bona Vacantia Department will only consider making one grant per dissolved company and will not usually consider making grants to companies that could be restored through the admnistrative restoration route.
When making an application to the government for a grant evidence must be supplied that the grant would meet one of the following criteria:
- paying the grant would alleviate hardship
- it would otherwise be unreasonable or unconscionable for the Crown to keep the assets
- there is a compelling public interest in making the grant
Please Contact Us if you would like any assistance with an application for a Discretionary Grant.