My debtor is a company and claims Insolvency - what can I do?
I am owed money by a company that is in liquidation
If you are the creditor who is owed the money by a company claiming insolvency the first thing you need to do is to check the Web check area on the Companies House website to ensure what you are being told is accurate. Click on the register of companies at Companies House link to find out details of the debtor company's registration number, the name of any Insolvency Practitioner appointed and indeed if the company is in fact in liquidation.
If the company is in liquidation the status in the search result will be 'L'. If you then click on the company number to the left of the status column you will be presented with a page detailing the insolvency information.
if you have not been contacted then you should write to the OR or Insolvency Practitioner (IP) if the case has been handed over to one, quoting the court reference of the case if possible, advising him/her that you are a creditor.
Judgment Debtors often mistake the visit to an Insolvency Practitioner as something more serious than it is – and even if a judgment debtor claims the debtor company is insolvent it does not always follow that the formalities have been followed. This means you may still be able to launch the recovery of your debt without having to be one of a number of creditors who may end up sharing the net proceeds of any available assets
If you find that your debtor company is indeed in liquidation then the Official Receiver will normally notify you (within 12 weeks of the date of the court order) whether a meeting of creditors will be held. The OFFICIAL RECEIVER will decide to hold a meeting if the company has significant assets available that can be realised for the benefit of creditors.
You will also be sent a report giving estimates of the insolvent’s assets and liabilities and what the causes of the failure are considered to be. If you think that the debtor company is withholding information about its assets, you should write to the OFFICIAL RECEIVER dealing with the case.
If you have not been contacted then you should write to the OFFICIAL RECEIVER or insolvency practitioner (IP) if the case has been handed over to one, quoting the court reference of the case if possible, advising him/her that you are a creditor.
The Insolvency Service website has a publication that may be helpful - 'A Guide to Creditors'. Specific queries about the insolvency of your debtor company should be directed to the Official Receiver or Insolvency Practitioner who is handling the case - and for details of their address - use the link at Companies House as set out above.
For general enquiries on insolvency matters you can contact The Insolvency Service Central Enquiry Line on 0207 291 6895; or e-mail: Central.Enquiryline@insolvency.gsi.gov.uk
