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Realistic chance to recover unpaid money if debtor is limited company "in liquidation"?

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11 years 6 months ago #771 by payontimefan
There is a company which has not paid its debts to us since last year.

We were just going to initiate a case in the Small Claims Court. However, I have noticed that their status is showing as "in liquidation" at Companies House (via a Duedil.com search), with the details as below at the end of this post.

In my experience the Small Claims process is a slow and unwieldy one if the defendant is not co-operative (e.g. pretending they didn't get the court letter, not turning up to the hearing etc.), and can take several months to get headway with, and by then this company will probably be long since liquidated.

Is it worth pursuing a case with the debtor, or is there no chance we'll get our money if they are liquidated? If a company is liquidated, is there any way of getting unpaid debts from their Directors etc.?

Thank you in advance for the advice.


13 Aug 2012Application For Liquidator Creditors Notice In Gazette13 Aug 2012Statement of Affairs In Regards To Insolvency13 Aug 2012Creditors Resolution To Liquidate
13 Aug 2012Appointment of Liquidator09 Aug 2012Appointment of Liquidator09 Aug 2012Change In Registered Office Address
04 Jul 2012Meeting of Creditors Notice In Gazette

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11 years 6 months ago #775 by David J
Hello Mark
I'm not an expert here but from my own experience of companies going into liquidation owing me money meant discussing it with the liquidator to find out what chances of recovering money owed there is.
When a company goes into liquidation they usually have no cash but may have assets that can be sold or outstanding invoices to be settled.
It looks as though there has already been a meeting of creditors in July where this would have been discussed.
I would suggest talking with the liquidator first.

Regards

David

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11 years 6 months ago #777 by payontimefan
Thank you. That's very useful David.

I don't think this company will have assets. (It's your typical scenario in this country, with the owners having other businesses but closing down this one to avoid paying their debts.)

Nonetheless, I would like to pursue my payments. How do I find out the liquidators contact details please?

Thanks again.

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11 years 6 months ago #778 by David J
Hello Mark
If you are a creditor the appointed liquidator should contact you within 12 weeks.

If not check on the companies house website web check service . Type in the name of the company then click the registered number on the left and click on the liquidation details. This does not always have details of the liquidator though.

Does anyone have a better answer to this question?

Regards

David

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11 years 6 months ago #785 by Safe_UK
They should contact creditors, provided they are listed as such.

Depending on the paperwork (or lack thereof) your company may not be listed as a creditor. In this instance use the webcheck facility and look for a change in the registered office as this is generally changed to the address of the Insolvency Practitioner.

It will be worth lodging your claim, but realistically the chances of recovering any funds from a liquidated company is negligible.

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