Unfortunately, in a lot of insolvency cases, particularly liquidations, creditors will not receive a dividend for outstanding money that the company owes. Whether a dividend is declared and paid or not, will depend upon the level of realisations that the liquidator can achieve. If there are sufficient funds for a distribution to creditors then there is a procedure that distributes funds to creditors in priority order.
Where do I rank as a creditor?
When a company is placed into insolvency proceedings, creditors are paid in order of priority. Creditors are ranked as follows:
Secured creditors with a fixed charge
For more information with regard to how you would rank, please don’t hesitate to contact us.
How do I make a claim for outstanding invoices and money?
To make a claim within the liquidation, you will need to first complete a Proof of Debt form and send this to the appointed liquidator. The liquidator will send Proof of Debt forms to all known creditors. Unfortunately sometimes creditors are missed off the list due to incomplete company records and it is then down to the creditor to contact the liquidator to request a Proof of Debt form.
Can I collect goods that I have provided to Carillion?
You are entitled to make a claim to collect goods from the company, so long as you have the correct paper work and can prove that the goods belong to you. You will need to contact the liquidator and they will ask for proof of ownership of those particular items. The liquidator will then decide whether you are allowed to collect your goods from the premises of the company.