Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

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  1. #1
    Basic Account Holder Dappa1 Novitiate

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    Default Company in liquidation

    Hiya,

    A company owes me goods / money but they have gone into liquidation - Is there any chance I can still reclaim what I'm owed?

    Tks

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  2. #2
    weegirl
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    Default Re: Company in liquidation

    Depends on how much they have in the way of assets, and how much debt they have.

    You need to get details of their balance sheet - if they are a limited company, you can download their accounts at the Company Registry for 1. This will list their assets (what they own/money), and liabilities (what they owe).

    You may be lucky, they may owe money, but it depends on whether those other creditors will sue or not. If you are first in line to get judgements, you may be okay providing the money is there.

    Depends on how much is owed to you whether it is worth it or not. It can be an expensive business and if they have gone into liquidation, chances are they are claiming they have practically damn all.


  3. #3
    Basic Account Holder Champnos Novitiate

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    Default Re: Company in liquidation

    Ok, well you become a "creditor" i would contact the administrators who will send you out the forms to fill in. You will then be in the list of creditors owed.

    Your problem is they will pay the most important things first, like themselves (administrators)wages, HMCE etc. You may then get a small amount back but you will get somehting like 10p for each pound.

    If you wanna name them or pm me with their name i can try to find out who the administrators are for you.

    If you arent claiming much im afraid its gone!


  4. #4
    Basic Account Holder alexteh Novitiate

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    Default Re: Company in liquidation

    To be honest, if it's in liquidation your best bet of seeing any (or at least a substantial amount) of your money would be if you'd paid for whatever it was by credit card and you can then issue a charge-back on the card.

    I am personally beginning to believe that the credit card is your best friend for any purchase over about 20 (or any online/telephone purchase) as you always have the credit card company to go back to. Just make sure you keep on top of the bill and pay it off in full each month (I tend to use the card and immediately transfer the amount I spent over from my current account)


  5. #5
    Basic Account Holder Champnos Novitiate

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    Default Re: Company in liquidation

    Heh yes you are right good point, lets hope this person has it on Credit Card!


  6. #6
    Basic Account Holder Dappa1 Novitiate

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    Default Re: Company in liquidation

    Well see that's the thing, when I asked my credit card company about it they basically said it wasn't their problem and there wasn't much i can do through them - this was about 4/5 yrs ago and i don't have that card anymore - although I do need to start the 'reclaim' process against them!

    The company are called Front Cover Girls Ltd and they owe me about 600-800!

    What do u suggest??


  7. #7
    Basic Account Holder nevos Novitiate nevos Novitiate nevos's Avatar

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    Default Re: Company in liquidation

    You mean they went down a few years ago?

    Name & Registered Office:
    FRONT COVER GIRLS LIMITED
    Company No. 03900882

    Number of Cases: 2
    To obtain details of the practitioner click on the appropriate case type description. Case Number: 2 (of 2 cases) Case Type: COMPULSORY LIQUIDATION Order to Wind Up: 15/01/2003 Petition Date: 14/11/2002 Case Number: 1 (of 2 cases) Case Type: CORPORATE VOLUNTARY ARRANGEMENT Date of Report: 26/02/2002 Notice of Completion: 21/10/2002

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  8. #8
    ArthurP
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    Default Re: Company in liquidation

    Quote Originally Posted by Dappa1 View Post
    Well see that's the thing, when I asked my credit card company about it they basically said it wasn't their problem and there wasn't much i can do through them - this was about 4/5 yrs ago and i don't have that card anymore - although I do need to start the 'reclaim' process against them!

    The company are called Front Cover Girls Ltd and they owe me about 600-800!

    What do u suggest??
    Don't take that from your credit card company.

    It is 'Equal Liability' and they have to answer to you, and your claim, not the other way around.

    Technically your credit card company, in the eyes of the law, are in Breach of Contract and/or Misrepresentation.

    Send a stern letter to them to sort this out.


  9. #9
    Basic Account Holder Champnos Novitiate

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    Default Re: Company in liquidation

    As above

    Case Type:COMPULSORY LIQUIDATION Practitioner name:RATCLIFFE, GERARD NICHOLASPractitioner address:
    IDEAL CORPORATE SOLUTIONS LTD
    UNIT 6
    LOCKSIDE OFFICE PARK
    LOCKSIDE ROAD
    PRESTON PR2 2YS

    Practitioner name:HARRISON, THOMAS CHARLES EDWINPractitioner address:
    RATCLIFFE & CO
    1A TOWER SQUARE
    33 WELLINGTON STREET
    LEEDS
    LS1 4HZ

    Practitioner name:OR Croydon, The Official ReceiverPractitioner address:
    6th Floor
    Sunley House
    Bedford Park
    Croydon
    CR9 1TX


  10. #10
    Basic Account Holder toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u's Avatar

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    Default Re: Company in liquidation

    Dappa
    You have no chance of getting any money back. The company went into liquidation some 4 years ago (May 23 2003). I take it you had not informed the liquidator that you were a creditor and lodged your claim with them. Also why would the credit card company be liable for a debt over 4 years old. You should have done something about it when the company first went into liquidation.

    Other advise you have been given:
    Weegirl - completely wrong advise. Creditors cannot sue a company in liquidation. Liquidation stops all creditor action. The balance sheet filed at companie house would be out of date and not give a true reflection of the current posistion. If a company is in liquidation the balance sheet will more than likely be negative
    Champnos - HMCE are not a preferred creditor anymore they are a creditor like anyone else and do not get paid before other creditors (except salaries, liquidators fees)


  11. #11
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    Default Re: Company in liquidation

    Quote Originally Posted by toddle2u View Post
    Also why would the credit card company be liable for a debt over 4 years old.
    The statute limitation on debts is 6 yearsicon - it works both ways - the credit card company remains liable up to that point I believe


    HMCE are not a preferred creditor anymore they are a creditor like anyone else and do not get paid before other creditors (except salaries, liquidators fees)
    HMCE cannot be a preferred creditor as they ceased to exist some time ago.

    Her Majesty's Revenue and Customs (HMRC) is the agency that replaced both HMCE and Inland Revenue.


  12. #12
    weegirl
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    Default Re: Company in liquidation

    Other advise you have been given:
    Weegirl - completely wrong advise. Creditors cannot sue a company in liquidation. Liquidation stops all creditor action. The balance sheet filed at companie house would be out of date and not give a true reflection of the current posistion. If a company is in liquidation the balance sheet will more than likely be negative
    [/quote]

    I should have been more clear in my original post. There is a way you can stop a company going into liquidation, but it involves High Court action which can be very expensive, and not worth it a lot of the time. Not any use in this case anyway as it turns out it happened some time ago. Companies house does run a year behind yes, but may give an idea of the trend of the business accounting.


  13. #13
    ArthurP
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    Default Re: Company in liquidation

    Quote Originally Posted by toddle2u View Post
    Dappa
    You have no chance of getting any money back. The company went into liquidation some 4 years ago (May 23 2003). I take it you had not informed the liquidator that you were a creditor and lodged your claim with them. Also why would the credit card company be liable for a debt over 4 years old. You should have done something about it when the company first went into liquidation.
    Not the case.

    I know a lady who bought a holidayicon of a lifetime to go to Australia in 1991 but to actually travel in December 1999 but she only found out just months before going that the travel company had gone bust in 1993 and the CCC were still liable and paid up.

    I believe there are no time limits on Equal Liability.


  14. #14
    Basic Account Holder toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u's Avatar

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    Default Re: Company in liquidation

    Yes but in that instance she had not actually had the benefit of the goods/service as it was in the future. With regarsd to Dappa we do not know anything about the debt or if he has received the goods/services.


  15. #15
    ArthurP
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    Default Re: Company in liquidation

    Quote Originally Posted by toddle2u View Post
    Yes but in that instance she had not actually had the benefit of the goods/service as it was in the future. With regarsd to Dappa we do not know anything about the debt or if he has received the goods/services.
    Yes, I agree with you.

    But it depends on how much/little Dappa's purchase has performed.
    The credit card company work on a percentage basis of the purchased performance for Equal Liability.
    The lady I know didn't benefit by even 1% and it may be that Dappa's purchase is the same which would entitle him to a refund regardless of what time has elapsed.

    We need to know what he purchased.


  16. #16
    Basic Account Holder toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u Informative toddle2u's Avatar

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    Default Re: Company in liquidation

    Agrred - Hopefully he can enlighten us some more


  17. #17
    Basic Account Holder Candygirl 06 Novitiate

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    Default Re: Company in liquidation

    [quote=weegirl;978897]Depends on how much they have in the way of assets, and how much debt they have.

    You need to get details of their balance sheet - if they are a limited company, you can download their accounts at the Company Registry for 1. This will list their assets (what they own/money), and liabilities (what they owe).

    How do you go about doing this, because
    I have had similar problems with a company
    that is well established, but has had part
    of the business shut down due to
    financial difficulties.
    Some help would be appreciated


  18. #18
    Basic Account Holder gmholder Novitiate

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    Default Re: Company in liquidation

    I am in a current situation with a company.

    It is currently going to small claimsicon, but apparantly they are planning to wrap up business.

    Im now worried I will get none of my money they owe me back.

    Any advice?


  19. #19
    Basic Account Holder Dappa1 Novitiate

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    Default Re: Company in liquidation

    Quote Originally Posted by toddle2u View Post
    Agrred - Hopefully he can enlighten us some more

    wow, have just caught up with this thread! Basically, it was one of those makeover / photo things and I was paying off monthly for the photos whilst being told that they were coming but they never did!!

    But doesn't sound like there's much i can do now - Just get on to my old bank re the credit card cost??


  20. #20
    weegirl
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    Default Re: Company in liquidation

    To track limited companies, you can access the webcheck service for free on Companies House. If the records are held in another geographical area, you may have to track down your local office, I usually work with the Belfast branch at DETI. There are loads of sites offering the same search options and will sell you these records for an hugely inflated price, don't bother with these, they are a rip off. You can search yourself for free and each downloadable document is only 1, I have seen private firms quoting 50 for this free service.

    You will then will be given an option to view the document titles that are available for download. You can download the registration details, and any returns, ie, change of directors, registered adress, and the last accounts. The accounts for public viewing are abridged, the full accounts are kept private but you can still see their balance sheet.

    I hope this helps.



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