For directors of a closing company
Can a company sell assets before liquidation? Its records too
Updated
A company's records are among its assets, and the time to license them is usually before the company is wound up, while its directors can still sign and the boxes can still be recalled.
While the directors are still in charge
A company that is still trading, or closing before any resolution to wind it up, can license its records itself. A winding-up petition puts that at risk: if the court then makes a winding-up order, a disposal of the company's property after the petition is void unless the court orders otherwise. Some buyers on our board say they take records from closing companies. The storage firm's terms set the notice and charges to recall the records.
Once an office-holder is appointed
In a UK insolvency the office-holder gathers the company's property, and section 234 of the Insolvency Act 1986 lets the court order anyone holding its books and records to hand them over. In a US bankruptcy the trustee receives the recorded information under 11 U.S.C. 521.
Source: Company records release law
Settling the storage account
A warehouse's lien for unpaid charges, under UCC 7-209, or a bailee's power to sell uncollected goods in England and Wales, can stand between the records and any buyer, so the storage bill is part of the plan.
More on company records
The storage providers' terms are on the home page board.