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Company gone bust - any way to reclaim money?
yinhong
Posts: 137 Forumite
Hi,
I am writing on behalf of a small charity that I work at. The charity ordered an item worth £935 about 6 weeks ago but after 4 weeks it still hadn't been delivered. We contacted the company to ask for an update, and the next thing that's happened is they've sent a letter that says the following:
Quote:
"Dear Sirs, I am writing to inform you that xxxxxxxxxx is technically insolvent and hence has ceased trading as of the 13th September 2013.
The company has insufficient funds or assets to formally go in to liquidation and hence invited creditors to issue winding up proceedings should you wish to do so.
If it is not subject to any formal winding up proceedings; the intention is to apply for Strike Off under s652 of the Companies Act after a period of three months from the above date."
I would be grateful if someone help us by explaining exactly what the letter means, and crucially if there's any way the charity can reclaim the money spent which was raised through hard earned fundraising?
The money was paid by bank transfer. We cannot contact the company by phone, but their website is still up and running. Is there anyone we should be reporting them to?
Originally posted here:
https://forums.moneysavingexpert.com/discussion/comment/63191856#Comment_63191856
I am writing on behalf of a small charity that I work at. The charity ordered an item worth £935 about 6 weeks ago but after 4 weeks it still hadn't been delivered. We contacted the company to ask for an update, and the next thing that's happened is they've sent a letter that says the following:
Quote:
"Dear Sirs, I am writing to inform you that xxxxxxxxxx is technically insolvent and hence has ceased trading as of the 13th September 2013.
The company has insufficient funds or assets to formally go in to liquidation and hence invited creditors to issue winding up proceedings should you wish to do so.
If it is not subject to any formal winding up proceedings; the intention is to apply for Strike Off under s652 of the Companies Act after a period of three months from the above date."
I would be grateful if someone help us by explaining exactly what the letter means, and crucially if there's any way the charity can reclaim the money spent which was raised through hard earned fundraising?
The money was paid by bank transfer. We cannot contact the company by phone, but their website is still up and running. Is there anyone we should be reporting them to?
Originally posted here:
https://forums.moneysavingexpert.com/discussion/comment/63191856#Comment_63191856
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