CASE STUDIES
This is an on-going matter in relation to CMB’s appointment as the Joint Liquidators of a Company that had been wound up, following enforcement action being brought by a trade creditor. The Company operated as a retail seller of fruit and vegetables to various parties and was wound up in October 2023.
CMB was approached by the legal representatives of the petitioning creditor with a view to seeking the appointment and was duly appointed as Joint Liquidators by the creditors at a convened creditors’ meeting in February 2024. The unusual position in respect to this matter was that the petition was issued in June 2022 but the Company was not wound up until October 2023. This provided the potential for significant void dispositions to have been undertaken during the intervening period.
Using our investigative skills we quickly identified a number of material dispositions (as anticipated) and are likely to recover in excess of £100,000 from various parties which (subject to costs) will be distributed to unsecured creditors. The recoveries made will also allow the petitioning creditor’s costs to be repaid in full. CMB has agreed its fees on a mixed fixed and percentage of realisations basis with creditors in order to provide maximum value.
This reflects our front-footed approach to identifying and pursuing recoveries linked to antecedence for the benefit of all creditors in an efficient and timely manner.
