FAQs
Q - What is an administration and the role of the Joint Administrators?
A - An administration is an insolvency process used by companies that are unable to pay their debts as they fall due. A moratorium has been placed over the Companies as a result of our appointment. This means that no creditor can take legal action against the Companies except with leave of the court.
A licensed insolvency practitioner will be appointed to handle the process. It will be their role to identify and realise all of the Company’s assets with a view to making distributions to creditors, where available. The administrators will also investigate the reasons for failure and the conduct of the director in the lead up to insolvency and will submit a report to the Insolvency Service in this regard.
Once the administration process is complete, it may lead to another insolvency process, but ultimately the Company will be wound up with Companies House, its name removed from the register of limited companies and it will cease to exist as a legal entity.
Further details can be found here: https://www.thegazette.co.uk/all-notices/content/104038 and here: https://www.begbies-traynorgroup.com/company-administration/what-duties-does-an-administrator-have-to-creditors-in-a-formal-insolvency-procedure
Q – I am a customer – will my project be finished and can I instruct another party to complete works?
A – An independent review of the viability of completing work in progress will be completed ASAP and customers contacted directly.
Q – I am a former employee who has been made redundant – how do I go about making a claim?
A – We understand that letters have been issued to employees made redundant by the Company. The Administrators will send letters to employees explaining how they can make a claim against the Redundancy Payments Service as soon as possible after their appointment.
Q – I am interested in contacting former employees to offer potential employment – can you provide their contact details?
A – The Joint Administrators are unable to share private information but will seek to contact former employees and provide them with details of potential new employers as required. Please email details of any roles to cardiff@btguk.com so that these can be passed on as appropriate.
Q – What is my position if I am owed money by the Company?
A – You will have a claim in the Administration. The order in which creditors are ranked, is set out in the Insolvency Act 1986. An unsecured creditor is the lowest ranking creditor in the order of priority and payment will only be achieved if all other creditors, who fall before unsecured creditors in the order of priority, are discharged in full, along with costs of the insolvency proceedings.
Please refer to the following article for further information regarding the order of payments in a liquidation, which is the same order as in administration: https://www.begbies-traynorgroup.com/articles/insolvency/who-gets-paid-first-when-a-company-goes-into-liquidation.
Unfortunately, any outstanding debts which remain after the liquidation process will be written off, unless they have been secured by a director’s personal guarantee.
Notice of the administration will be sent under separate cover within seven days of our appointment together with a proof of debt form. If you have not received a copy of this notice after seven days of our appointment, please contact the Joint Administrators via email at cardiff@btguk.com to ensure we are aware of your contact details.
Q – How much money will I get back, and when?
A - This will be dependent on asset realisations, particularly the collection of debtor monies.
The Joint Administrators and their agents will be working hard with various stakeholders to achieve the best outcome available and will provide an update to creditors within eight weeks of their appointment when their proposals are sent to creditors. In addition, updates to creditors will be provided in line with statutory reporting requirements with the first progress report being made available within one month of the six-month anniversary of the appointment.
Q – I have supplied stock to the Company, subject to retention of title – can I recover my stock?
A - Your first port of call should be to contact the Joint Administrators via email to cardiff@btguk.com to make us aware of your potential claim and the location that you supplied stock. These claims need to be dealt with quickly so you will be issued with a questionnaire to complete so you can provide evidence of supply and any retention of title clause.
The claim will then be assessed by the Joint Administrators for validity, and we will then seek to liaise with customers to provide access to sites as appropriate.
Q – The Company has ordered goods from me, but these have not been delivered. Should I still deliver the goods?
A – Please do not fulfil any orders placed by the Company before our appointment unless you receive our written confirmation that the goods or services are still required.
With effect from the date of our appointment, the Company will not be responsible for any payment for goods and services delivered to it except against orders which bear the Joint Administrators’ signatures, or one of their authorised representatives. All such authorised orders will be paid for in accordance with your normal trade terms, unless otherwise agreed with you.
Q – I have supplied equipment or assets to the Company under a lease, hire or hire purchase agreement. Can I recover my assets?
A – Your first port of call should be to contact the Joint Administrators via email to cardiff@btguk.com to make us aware of your assets and the location they were supplied.
Please provide a copy of any agreement with the Company so that the Joint Administrators and their agents can review the documentation. We will then seek to liaise with customers or other appropriate parties to seek to arrange access the equipment or assets.
Q – Will any attempts be made to sell the Company’s business?
A – If any party is interested in the Company’s brand, intellectual property and order book, they should email cardiff@btguk.com with details of their interest. It should be noted however that all trade ceased on 13 November 2024, so customers’ orders are likely to have already been placed elsewhere.
Q – How do I go about trying to purchase any of the Company’s assets?
A - The Company has appointed independent agents, Gavel Auctioneers to sell the Company’s assets and they can be contacted at auctions@gavelauctioneers.com
Expressions of interest should be registered via email to the agents direct.
Q – Are there any plans for a new company to be established to complete projects and fulfil existing orders?
A – The Joint Administrators are not aware of any plans from the directors to establish a new company to complete the Company’s projects and/or fulfil existing orders and are not in any negotiations to transfer any of the Company’s business.
Q – How long does the Administration process take?
A – As mentioned above, the administrators have to identify and sell any assets, conduct investigations and file statutory paperwork, which can take up to two years, if not longer. The more complex the issues, the longer the process takes.
Other Information and GDPR
The Company is registered in England and Wales and therefore the insolvency proceedings will be carried out in accordance with the relevant UK insolvency legislation.
As part of the administration process, the directors are required to prepare and deliver up a Statement of Affairs to all of the Company’s known creditors.
Within the Statement of Affairs is a schedule of all known creditors, which will include personal data, such as names and addresses (dependent upon the method of delivery). This is required by insolvency legislation, meaning it is lawful processing of personal data and does not constitute a breach of General Data Protection Regulation (GDPR).