£1000 claim back

Keynesfun

Hello everyone out there 
my question is 
in 2020 I was to be married 
covid cancelled our wedding and we booked for Feb 21 
the venue went into administration and folded, we lost our £1,000 deposit
the accountancy firm taking over back then that we would potentially loose our deposit 
they have sold the property for 4.5 million pound in Nov 21
do I stake my claim of £1,000 back of the accountancy firm 
we didn’t pay on credit card 
but surely if they sold it for that amount , then I should be getting all or a percentage back 
thanks 
Steve 

[Deleted User]

Selling it for that amount means they, probably, had hefty debts, it's likely that, in the grand scheme of things, your money would be right down at the lower end of the list of creditors.
The reimbursement you get, if any, would be small.
Not what's nice to hear but prepare yourself for not seeing much of your deposit back.

dunstonh

When the business failed, you would become a creditor.   The administrator (not an accountant) would then look to find a buyer for the business.  If that isn't possible, then it will look to sell the assets at the best possible price to repay the creditors.       There is a pecking order with creditors on who gets paid first and how much.

You may eventually get something back but it could be as little as pennies in the pound.   But you wont know at this stage.  You can make sure the administrator is aware of the debt.

Keynesfun

thank thanks 
I will contact administrator and put my case forward so he knows I’m still about 

Keynesfun

On same point can I ask of proof of debt owing by the company folding and the price sold 
and where the money has gone 

superbigal

Keynesfun said:

On same point can I ask of proof of debt owing by the company folding and the price sold 
and where the money has gone 

As a creditor you get all of that information.
Be no suprise to find the Administrators fees will also have eaten a healthy proportion of the selling price.

p00hsticks

Keynesfun said:

but surely if they sold it for that amount , then I should be getting all or a percentage back 

You;re assuming that the company actually owned the property involved outright - but the chances are that it was mortgaged to the hilt  and/or had charges lodged against it from creditors. If it did then I think they'd get priority over unsecured creditors like yourself

Keynesfun

Got my £1000 back 
they rang out of the blue 😁