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Company gone into receivership - will we get our things back?


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Morning,

 

I know that normally if a company goes into receivership there's a chance that you won't get your money back etc, but what if you had put something in to get repaired, does it still count as 'belonging' to the company?

 

My husband put an engine and some other bits in to a company to get repaired and has now heard that they have gone into receivership, although hasn't been contacted by the company as yet.

 

my initial thought was that he would be safe as the engine isn't actual stock, as it is in for repair rather than being a purchase, but a colleague reckons that this isn't the case.

 

Sorry for being so basic, but I haven't had much dealing with this before. Does anyone know anything about this?

 

My husband is going to try and find out more and contact the company at lunchtime but I was hoping to reassure him (if this is possible). The value of the items getting repaired is £1000 so of course I hope we would legally be assured of getting this back without any problem.

 

many thanks to anyone who can offer advice,

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You have good title to the goods, i.e. you own them and not the company and therefore they cannot be considered as part of the company's assets. You should of course get the goods back. If you don't get them back you ought to report the matter to the Police.

Please note I'm not insured in this capacity, so if you need to, do get official legal advice.

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As Rosie previously stated the goods are yours and should be given back to you. If you can fnd out who the official receiver is then it may be worth popping them a line to let them know. They may release the goods early for you.

Pam.

 

If anything I've said helps you then please feel free to tip my scales!

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