HELP!!...Company gone into Administration and owes me money..

JCS1

chalkie99 wrote: »

Unfortunately you will be at the bottom of the pile behind the administrators who charge a small fortune for their services, the taxman and vatman, the bank and any other creditors with security.

HMRC are now longer prefential creditors, it was changed with the Enterprise Act 2002

Courier_man

toddle2u wrote: »

It will be the creditors meeting that you will be attending where the formal ratification of the appointment of the Insolvency Practitioner (IP) will be made and agreement to his fees. If enough creditors vote (by value of debt) they can appoint their own IP as Administrator but this is rare (relatively). You will then be talked through the Statement of Affiars (SoA) and the reason for the company failure and be given the chance to question the Director(s) on this. The IP will also state what has happened to the company's assets - if he has sold them back to the Directors or if the company is still trading and what he intends to do with the company and its assets.

You will need to complete a proof of debt form prior to the meeting and lodge it with the IP's office.

It's all fairly standard procdure

Thanks

Thats cleared up a lot, I've got to fill out a proof of debt forum like you said

Just not sure about these 2 questions....

1. Particulars of any security held,the value of the security, and the date it was given

2. Particulars of any reservation of title claimed in respect of goods supplied to which the claim relates

toddle2u

No problem. Answer to questions
1) I would say that you do not have any security over the debt i.e. debenture/charge/mortgage over the companys assets so the answer to this is none.
2) As you provided a service and not goodsI would be surprised if you have a retention of title clause in your t & c's so the answer to this is none also.

ESKIMO

First of all sorry to hear about your hardship, i can't imagine how difficult it must be for you atm.

As previously mentioned inform HMRC about your indebtedness.

You obviously need to declare your interest with the admins on any and all outstanding and unpaid debts with the company in question. Inform them you have accepted work, in part, however you are uncertain about where you stand based on the unfortunate circumstances. This would imply that you have assets in your posession and are going to hold on to them. - Assuming that you have undelivered packages/parcels, just be careful that you havn't 'assumed' an obligation to deliver them or you might be held liable (for damage, loss etc). So do check your T&Cs of contract (assuming you have one of course) for your best course of redress.

Remember that a contract is formed on a promise to pay - which they have not. Therefore in theory the contract is not legally binding. Which works in your favour.

I wish you all the best.

toddle2u

Assuming that you have undelivered packages/parcels

As stated by the OP in an earlier post he has no undelivered packages

Remember that a contract is formed on a promise to pay - which they have not. Therefore in theory the contract is not legally binding. Which works in your favour.

Contracts become void when a company enters Adminsitration

Keeping_Positive

Courier-man I would follow what toddle2u posts as from what you have said and I saw from the letter I agree with them.