Property Management Company withholding of funds following termination of contract

Highgrove2022

Hi All

I am a director of a small residential block of apartments. We have recently appointed a new property management company after the previous one terminated the contract with us. The previous company are now running an insolvent company and will cease trading at the end of September 2024. 

We believe that there has been serious mismanagement of our funds and the previous company are ignoring all contact and requests for the bank accounts to be reconciled and indeed refuse to inform us of the remaining balance. 

NatWest have refused to provide any help without the authority of a signatory on the bank account. 

Are there any other actions which we can pursue. The Property Management Company is in the process of contacting the Police. There are also multiple residential sites which have also been affected. 

Any help/advice would be greatly appreciated.