Q&A: Returns to a company in liquidation

Q. I wish to complain about something I bought at a local shop. Unfortunately they have now gone bust and I’m not sure what to do. It was an expensive item so I would like to get my money back if at all possible. Is there anything I can do?

A. If the company is in liquidation, you will have to make a formal claim to recover your money.  Debts are paid by selling off all disposable assets.  A Trustee or Liquidator will be appointed to manage the sale or disposal of assets and make payments to everyone the company owes money to.  The Trustee/Liquidator could either be the Official Receiver or an Insolvency practitioner (IP).  You can find out who is dealing with your claim by searching the individual Insolvency Register, the records at Companies House or the “London Gazette”.

 

Andrew Hornsby, Partner

 

*Previously printed in the Stamford Mercury and Peterborough Telegraph