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Found 23 results

  1. My ex employer (LTD Co) has found a novel way to avoid the companies debts. The director dissolved the company while still trading, without informing employees, or any other creditor, until after the strike off. Redundancy notices were issued, but now the director is trying to avoid paying. any suggestions welcome. Thank you!
  2. Airline Insolvency Review to examine protection for air passengers READ MORE HERE: https://www.gov.uk/government/news/airline-insolvency-review-to-examine-protection-for-air-passengers
  3. BHS investigation READ MORE HERE: https://www.gov.uk/government/news/bhs-investigation
  4. http://www.expressandstar.com/business/uk-money/2017/01/27/figures-show-steep-rise-in-recorded-personal-insolvencies/
  5. Afternoon everyone, Just a question really as follows: I was made redundant 31/07/2015 and followed all the correct procedures. Went to employment tribunal and won my case, which was not contested. Recieved my judgement order on 18/03/2016, which has not been settled. I found out that my previous employer has since closed the business and as of yet not legally gone bankrupt, called in an insolvency practioner nor liquidated the company. I applied to the insolvency service which is going through now and I received a letter saying that they will pay the redundancy as per employment judgement order and then go after my former employer for the monies. I was awarded the judgement for redundancy along with a calculation date of 8% simple interest payable on a day to day basis starting 01/04/2016. So my question is will I get the interest that has occurred or just the statutory redundancy payment. Many thanks in advance
  6. We have a meat shop, we use to buy Meat from a big supplier. Their quality of meat gradually became so bad that we had to refuse four deliveries as the restaurants we supply it to won't accept it. Later on in a month's time the big supplier went into administration. We then realised why they weren't much bothered about their quality anymore. Anyways, asministrators came in and they dug out that those four deliveries which were refused by us are actually invoiced and outstanding. We received a notice to pay from them on which we responded telling them that these deliveries were refused with supplier's consent and they knew it has been refused. Total amount was aprox £7800. Moreover, we also mentioned that there is around £900 also outstanding on previous returned items due to bad quality in last months which we still seek to claim. Liquidators replied that invoices are outstanding as they have proof of delivery but they can offer a settlement in aprox £5000 if we pay in next 2 days otherwise they will seek legal action. We didn't accept it. After a week of that, and after adding their fees to the total, they sent a ' statutory demand under s.123 (I)(a) and s.222 (I)(a) of the solvency act 1986 ' to wind up our company if we didn't pay in full in 21 days otherwise they will proceed through court. We never had any written credit or any other agreement with them. On their notices they are mentioning invoice agreement and all correspondence is addressed to business name. I would like to know where do I stand at this situation and what could happen. I don't mind going to court to defend myself and also don't want to spend any money on hiring a solicitor due to their costs as it's not my fault. I do not have any experience of such things and need serious help here. I hope some one can. I have only 10 days left to finish the 21 days period as it all happened when i was away on easter holidays. Many thanks for reading.
  7. 2K debt turned 30K by insolvency solicitors now threat of possession Hi, I desperately need some legal advice and I cannot afford a solicitor. A small debt has turned into a massive charge on my house by a firm of solicitors and they are trying to possess my house for what was a £2k debt but their turned it into £30k in less than a year. Both myself and my wife are mental health patients and have a child too. Scared to death we are. Please share or help directly if you can. We need a good lawyer to help us out of this nightmare... I can provide more details of course but here is in brief: - Lloyds tsb credit card debt more than 7 years old - my wife made bankrupt without us even knowing about any court - we are both mental health patients, severe anxiety and major depression, in 40s and active but anxiety blocks decision making and acting in time rather we suffer in silence and regret... - We have one child, - I've been told we can't get legal help in spite of not having a high income collectively ( - Insolvency sols have threatened to possess the house and it is just too much to bear, really... Any help or advice would be much appreciated.
  8. Has anyone read about the new rules regarding insolvency http://www.natlawreview.com/article/take-note-amended-uk-insolvency-law-now-force
  9. Hi, In September 2014, I filed for Bankruptcy. Recently the Insolvency Practitioner arranged a House Valuation and has now sent me a letter requesting that I pay £26 k as this is the equty in the property. The house is in my sole name. I am working full time and have just enough money to keep my head above water although may be able ot find £50 or £100 per month by cutting down more if I have to although it is so tight My plan eventually was to try and sell the property a few years down the line for a smaller more affordable one. I am only paying interest only on the house and so will never own it as it stands. I have two teenage kids.My questions are as follows and I will try to keep this short: 1) Can I request a re-valuation? With all the issues worng with this property and comparing to others in my area, I fail to see how they have vauled it so high. 2) Can I make an offer below the £26k? And if so, what are they likley to take? For example, if I offered £1,000 would this be laughed at or will they take £5k or £10k, or any other amount? Like 50% for example? Anyone any thoughts on this at all? 3) What will happen if I can't offer anything? Will the house just then be re-possessed or will they just ask me to sell it? 4) If I do nothing how long is it before anything happens? They have given me 14 days to respond to their request. Thanks for your anticipated help JJ
  10. Hello, I have been working for a few years at a company and I resigned in December, my last day was on the 15th of January. My company went into administration a week ago and KPMG is the agent handling the company now. The January wages were paid to everyone int he company except me. They said they are only willing to pay those who are still with the company, since my last day was 3 days before the company went into administration they see no reason to pay my wages, which is a sizable amount. I need to point out that I left legally, after serving my 1 month's notice and aside from the obviously discrimination and unfairness of it all, I have no way of fighting this. KPMG told me to seek help directly with the Redundancy Payments Service (even though I wasn't really made redundant) and it looks like I would get a small fraction of what they owe me if I succeeded in the claim. I seek some advice from someone experienced. Is there a way to reason with the administrating company for such an obvious injustice using a legal standing that they will acknowledge? Just telling them that it's unfair won't help, I need a more tangible way of doing it. Thank you in advance Nick
  11. I have become increasingly concerned by the number of banks and companies using "no locus standi" as a defence. It is becoming obvious that third parties cause the bankruptcy of a Claimant/Defendant allowing the right of action to be vested in the Official Receiver or Trustee. More often than not there is a decision not to pursue the action, cost, success of action etc being the excuse. Surely if the bankrupt was involved in legal action, in particular to obtain recompense, the claim must be pursued in the interests of both creditors and the bankrupt. I have seen evidence that banks etc are using the "no locus standi" argument to prevent evidence of their conduct to be "buried". This is an injustice and needs to be addressed as a matter of urgency.
  12. Re: David Kaye v South Oxfordshire District Council & Certain Exhibitions Ltd Yesterday a highly important Judgment was handed down in the High Court of Justice (Manchester District Registry) regarding the position with arrears of council tax/Non Domestic rates in cases where an individual debtor or company file for either personal bankruptcy, a Debt Relief Order, Individual Voluntary Arrangement, Liquidation or a Company Voluntary Arrangement. Background A company by the name of Certain Exhibitions Ltd suffered a serious fire on 21st April 2013 which destroyed their storage facility and led to the disruption to their business. Three weeks earlier on 12th March 2013 the respondent; South Oxfordshire District Council issued the company with a notice in respect of non domestic rates for the period 1st April 2013 to 31st March 2014 in the sum of £25,905. Of significance is that accompanying this statement from the local authority was a direct debit confirmation which stated that in accordance with the Local Government Finance Act 1988 the company had a statutory right if they wished to pay the sum (of £25,905) by instalments with a 1st payment of £2,586 by 15th April 2013 and nine further payments of £2,591 on the 15th day of each month ending on 15th January 2014. Due to the effect to the business of the fire damage the exhibition company entered into a Company Voluntary Arrangement (CVA) on 10th July 2013. The proposal was accepted by creditors at a meeting on that same day. The following day (11th July 2013) the exhibition company received a reminder notice from the local authority stating that the payment due of £2,591 for the June instalment had not been paid and that if this payment AND the one due on 15th July was not paid by 21st July 2013 that a summons would be issued and the full balance for the year to 31st March 2014 would become due. The Insolvency Practitioner wrote to all creditors asking them to “prove” their debt and the local authority responded on 29th July 2012 to claim under the CVA a sum of just £1,918.26 which represented the period 1st April 2013 to 10th July 2013 (which is the date on which the CVA had been agreed). The Supervisor to the CVA; Mr David Kaye wrote to the local authority questioning how the sum had been calculated and stating that the claim should be for the full year’s business rates and not just the amount up to the date on which the CVA had started. His reasoning being that the full year’s rates had become due on 1st April 2013, and accordingly, the full year’s liability should therefore rank as an unsecured creditor in the CVA. The local authority argued that because the annual bill has been issued on 1st April full payment was not required on that date and instead, the ratepayer could if they wish pay the debt of £25,905 by way of ten instalments and furthermore; that at the date of the CVA the instalment option was still applicable. Neither party could agree and subsequently, in September the local authority issued a summons for approx £20,000 and the Supervisor issued proceedings in the High Court to resolve the legal position. Conclusion: After considering submissions from both parties, His Honour Judge Hodge QC confirmed in paragraph 56 of the Judgment that the local authority were wrong and that the correct position was that the full amount of the non domestic rates for the period 1st March 2013 through to 1st April 2014 must be a “provable”debt in the company voluntary arrangement. Of huge significance is that under Paragraph 56 HH Judge Hodge QC also confirmed that his decision would be applicable to company liquidations AND also for personal bankruptcies (which will include IVA's and Debt Relief Orders). It is my understanding that the Insolvency Service have confirmed today that they will be now be issuing a notice confirming that a council tax/non domestic “holiday” will now be able to be included as a debt in ANY form of insolvency including personal bankruptcy and Debt Relief Orders. This will mean that any individual or company declaring insolvency on or after 1st April 2014 will be able to include the ENTIRE year’s 2014 to 2015 council tax /non domestic rates as a debt. Note: If a company or an individual file for an insolvency scheme on for instance; 1st February 2014 they can include as a creditor council tax or non domestic for the period 1st Feb 2014 to 31st March 2014. However, if they wait a few weeks until 1st April 2014 (when the new council tax bill is issued) they can include in the insolvency not only any arrears for this current year but ALSO the whole of the year's council tax for the period 1st April 2014 through to 31st March 2015 !!! The full judgment can be read here: http://www.bailii.org/ew/cases/EWHC/Ch/2013/4165.html
  13. Re: David Kaye v South Oxfordshire District Council & Certain Exhibitions Ltd Yesterday a highly important Judgment was handed down in the High Court of Justice (Manchester District Registry) regarding the position with arrears of council tax/Non Domestic rates in cases where an individual debtor or company file for either personal bankruptcy, a Debt Relief Order, Individual Voluntary Arrangement, Liquidation or a Company Voluntary Arrangement. Background A company by the name of Certain Exhibitions Ltd suffered a serious fire on 21st April 2013 which destroyed their storage facility and led to the disruption to their business. Three weeks earlier on 12th March 2013 the respondent; South Oxfordshire District Council issued the company with a notice in respect of non domestic rates for the period 1st April 2013 to 31st March 2014 in the sum of £25,905. Of significance is that accompanying this statement from the local authority was a direct debit confirmation which stated that in accordance with the Local Government Finance Act 1988 the company had a statutory right if they wished to pay the sum (of £25,905) by instalments with a 1st payment of £2,586 by 15th April 2013 and nine further payments of £2,591 on the 15th day of each month ending on 15th January 2014. Due to the effect to the business of the fire damage the exhibition company entered into a Company Voluntary Arrangement (CVA) on 10th July 2013. The proposal was accepted by creditors at a meeting on that same day. The following day (11th July 2013) the exhibition company received a reminder notice from the local authority stating that the payment due of £2,591 for the June instalment had not been paid and that if this payment AND the one due on 15th July was not paid by 21st July 2013 that a summons would be issued and the full balance for the year to 31st March 2014 would become due. The Insolvency Practitioner wrote to all creditors asking them to “prove” their debt and the local authority responded on 29th July 2012 to claim under the CVA a sum of just £1,918.26 which represented the period 1st April 2013 to 10th July 2013 (which is the date on which the CVA had been agreed). The Supervisor to the CVA; Mr David Kaye wrote to the local authority questioning how the sum had been calculated and stating that the claim should be for the full year’s business rates and not just the amount up to the date on which the CVA had started. His reasoning being that the full year’s rates had become due on 1st April 2013, and accordingly, the full year’s liability should therefore rank as an unsecured creditor in the CVA. The local authority argued that because the annual bill has been issued on 1st April full payment was not required on that date and instead, the ratepayer could if they wish pay the debt of £25,905 by way of ten instalments and furthermore; that at the date of the CVA the instalment option was still applicable. Neither party could agree and subsequently, in September the local authority issued a summons for approx £20,000 and the Supervisor issued proceedings in the High Court to resolve the legal position. Conclusion: After considering submissions from both parties, His Honour Judge Hodge QC confirmed in paragraph 56 of the Judgment that the local authority were wrong and that the correct position was that the full amount of the non domestic rates for the period 1st March 2013 through to 1st April 2014 must be a “provable”debt in the company voluntary arrangement. Of huge significance is that under Paragraph 56 HH Judge Hodge QC also confirmed that his decision would be applicable to company liquidations AND also for personal bankruptcies (which will include IVA's and Debt Relief Orders). It is my understanding that the Insolvency Service have confirmed today that they will be now be issuing a notice confirming that a council tax/non domestic “holiday” will now be able to be included as a debt in ANY form of insolvency including personal bankruptcy and Debt Relief Orders. This will mean that any individual or company declaring insolvency on or after 1st April 2014 will be able to include the ENTIRE year’s 2014 to 2015 council tax /non domestic rates as a debt. Note: If a company or an individual file for an insolvency scheme on for instance; 1st February 2014 they can include as a creditor council tax or non domestic for the period 1st Feb 2014 to 31st March 2014. However, if they wait a few weeks until 1st April 2014 (when the new council tax bill is issued) they can include in the insolvency not only any arrears for this current year but ALSO the whole of the year's council tax for the period 1st April 2014 through to 31st March 2015 !!! The full judgment can be read here: http://www.bailii.org/ew/cases/EWHC/Ch/2013/4165.html PS: I posted this story on the bailiff section yesterday and I am pleased to see that the online news service SCOOP picked up the story using the google and twitter feeds. http://www.scoop.it/t/lacef-news
  14. Hi Insolvency & Rescue Awards 2013 finalists revealed http://www.insolvencynews.com/article/15585/industry/insolvency-rescue-awards-152-finalists-revealed A bit of a diverse post this maybe, but nevertheless interesting and a discussion point whatever side you are on as the sector plays a huge part in the debt and insolvency field and there is no getting away from the fact. Having looked through the list of the finalists, one or two on there definitely caught my eye and I know and have met some on a professional level There are also a couple of 'agencies' on the list too that halted my 'trawl down' so to speak - CAP & Stepchange for example, unless I have misread it of course - tick, tock, tick, tock I got a personal invite to this bash once a few years ago now if I remember correct, I did not attend as I would probably would have been lynched by the genuine free sector colleagues of mine and a few others - think one of the people who asked me to go (again if I remember right) will walk away with one of the awards, wish I could get a bet on her, deserved though if she wins, in my opinion of course Not quite my scene though, but you can never say never I suppose I wonder how much it all costs? My views and a touch of humour thrown in for the converted:)
  15. I have never done this before so hopefully I am posting in the right place. Long story short (ish) 2010 a man came to our garage and asked our young trainee ( on his break) to have a look at his car on the forecourt, young lad did, car engaged, the man got a fright stepped back and tripped and fell and hurt himself. ( Told police / ambulance the same) The insurance company are unable to offer indemnity as due to it being on the forecourt it is covered by the Road Traffic Act and he was under 25 and not insured. The man did hurt himself - not disputed, our trainee should have refused to help, he was in charge of the vehicle - not disputed. We have heard nothing for 2 years, changed out broker in the mean time. Court letters and doctors reports etc from the man started to arrive, so I have gone back to our original broker and have been forwarded a letter they received in 2012 ( which they never passed on) saying that the insurance company do not think there is a good enough case to dispute liability so we intend to make an offer to the claimant under our RTA obligation. Subject to us signing an "Assignement and Agreement" This was never signed. ( We never received it) They also dispute that it is covered by our public liability due to it being outside. The insurance company have addmited liability and will pay for the claim and all costs. The letter for this has just come in the post and they will then want to recover the costs from us. I called and spoke to the person dealing with it at the insurance company and they don't thnk that it is worth me getting a solicitor as they are going to pay, just a matter of how much. COST REVOVERY???? Now for the question - how will they do that, we are a small 3-4 person garage, with assets no where near what they would want. A limited company, with a very small bottom line, no debts and no creditors. Is it worth their while to force us into insolvency / administration - there is very little they can get that way. Will they force a monthly payment plan? Do they request accounts and then make a decision if it worth hammering onto us. Would this be based on them being sure they can get say 50% of the claim repaid - The insurance has a figure of £51,000 against the claim. As you can imagine this is really causing a huge amount of stress as we have no way of knowing what they intend to do. Any help or advice would be so appreciated.
  16. Hi, I need your help people again! I decided after the advice of people on here regarding a number of grievances I had with my employer and statuary rights, that I would get a solicitor. I ended up resigning because of what ha[ppened and solicitor said with all the evidence I have got we should take my employer to a tribunal for automatic unfair constructive dismissa which l was told had a very strong case. Then after few letters and text messages back and fourth. My solicitor speaks to my ex-employer about a settlement. He said that he wants a figure asap and he would not give offer til we gave him figure and that he might put the company into insolvency. Now from what I understand I cannot take company to tribunal if they go into insolvency. So what are my options? Do i just ask for wages I was owed which was £5000. Do i ask for compensation? Do I work out what I would claim at tribunal and get figure from that? Do I put my solicitors fees on top? I'm hoping someone can help because I'm confused about what I should do as I think my solicitor thinks i should just accept the money I was owed. Not the fact that I cant get any more work or the fact of how he treated me, just for wanting the same as everyone (holidays and not to be paid short etc). Plus that I have no income since I resigned, so losing out on wages and future wages. PLEASE CAN ANYONE GIVE ME ANY ADVICE ON THIS SUBJECT.
  17. Hi Another interesting one from Insolvency News (this one made me smile a bit to be honest) Insolvency ad banned after R3 complaint - http://www.insolvencynews.com/article/15416/corporate/insolvency-ad-banned-after-r3-complaint More from the actual ASA site http://www.asa.org.uk/Rulings/Adjudications/2013/6/Mark-Liddle-LLP/SHP_ADJ_225121.aspx Link to R3 site below for those who may not know who they are (Association of business recovery professionals) some interesting stuff on there for the debt and insolvency buffs amongst us http://www.r3.org.uk/
  18. Hi,could anyone advise me on the following problem: a friend of mine was told that he had been served a "STATUTORY DEMAND under section 268(1)(a) of the insolvency act 1986. Debt for liquidated sum payable immediately", and this being the first time he had ever known that he may have such a debt and with no prior notifications that such debt existed, my friend finds themselves in a desperate situation and does not know what to do please help thank you
  19. The Insolvency Service has launched a voluntary exit scheme that is expected to see 50 employees in middle manager positions leave the organisation. It confirmed that the scheme is in response to falling case numbers and is targeted at middle managers and above across the agency. If case numbers continue to decline then the organisation will reduce employee numbers by between 200 to 400, or 10% to 20% of its workforce, over the next three years. More: http://www.credittoday.co.uk/article/14739/online-news/50-management-jobs-to-go-at-insolvency-service
  20. I received PPi refund from Halifax for £180. On the cheque it wrote: Pay: Insolvency Exchange Ref: My name. When I took the cheque to the cheque exchange I was told I can’t cash it and that it will have to go to Insolvency exchange. The bank says they will take it if I have account but I don’t-----------HELP
  21. Hi Insolvency Service Annual Report & Accounts 2011/12 Always a slick and interesting report and well worth a read through (in my opinion) http://www.official-documents.gov.uk/document/hc1213/hc03/0358/0358.pdf Amongst a number of others - the paragraphs below caught the eye - whats that about nobody knowing about who is in an IVA? Individual Insolvency Register Use of the Individual Insolvency Register (IIR) remains at a very high level with 3,967,899 searches being conducted by users. This is an increase of 19% compared with the 3,348,240 searches conducted during 2010-11. Commercial organisations can register to receive data downloads of the IIR and at the end of March 2012 we have 32 subscribers to the service. We recognise the importance of this service to financial service organisations and the wider financial industry, and we work with these stakeholders to understand and meet their needs.
  22. An insolvency manager who worked for the Insolvency Service, the government agency, has been reported to the police for allegedly stealing £126,000. The Insolvency Service, which administers the insolvency regime in England and Wales, confirmed to Credit Today “internal incidents” involving the alleged theft by an employee of £126,444 from insolvent estates. This resulted in “fruitless payments,” the service claimed, of £155,343 to compensate for the estate account losses. More: http://www.credittoday.co.uk/article/14245/online-news/insolvency-manager-suspected-of-stealing-126000
  23. I'm applying to have my address kept from the Register under Insolvency Rule 6.235B. The lady from CAB tells me she thinks the fee for this is around £40 but that a Judge is unlikely to approve it as in reality few people are allowed to have their address kept off the register. I fled a DV relationship 4 years ago and my ex managed to find me up until 18 months ago when I last moved. I've managed to keep my address from him successfully to date here and really want to continue keeping it from him. I know it would affect me mentally if I felt he could find me. Apart from my own witness statement stating what happened, I have a letter from my GP who supported me during the relationship, while I was in a Refuge and after and she asks that my address be kept secret. Is the CAB lady being unecessarily pessimistic as to my chances of keeping my address off the register or am I likely to be successful? I'm so worried about it. I know some people apparently don't proceed with BR once they know their address cannot be kept secret and they are worried about DV, but I have no choice really and have to proceed and just know that if the Judge says no I will live in fear the whole time.
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