Quantuma LLP has been instructed to assist with placing Hollinberry Estates Limited into Creditors’ Voluntary Liquidation.
Please see below some Frequently Asked Questions to assist you, and links to important documents below:
*Anyone requiring a copy of the Statement of Affairs which has already been circulated, please contact the office on 02382 357959
Why has this been sent to me?
The Company entering Liquidation and in this matter all creditors (ie people who are owed money by the Company) are invited to consent or object to the appointment of Carl Jackson and Simon Campbell of Quantuma LLP as Joint Liquidators of the Company. This is a statutory process.
What is the deemed consent procedure?
Deemed consent is a process by which an office-holder can seek a decision by creditors in insolvency proceedings which does not require creditors to vote on that proposed decision.
Where an office-holder gives notice of a decision to be made under the deemed consent procedure, the decision will be deemed to have been made if less than 10% in value of creditors object to the proposed decision.
There is no requirement for you to return the voting form if you consent to the member’s appointment of Carl Jackson and Simon Campbell as Joint Liquidators of the Company.
What if I object to Quantuma’s appointment?
If you object to the member’s appointment of Carl Jackson and Simon Campbell as Joint Liquidators, you should complete the Notice of Objections and return this by email to email@example.com together with a completed Proof of Debt form.
If you wish to request a physical meeting of creditors, please ensure you indicate this on the Notice of Objections.
For an objection to be valid, it should be delivered before 23.59 on 21 August 2018 and a Proof of Debt form must be included.
Why has Quantuma been instructed?
The Company is unable to pay its debts as they fall due and therefore the Director has instructed us to assist with placing the Company into liquidation.
Liquidation is a legal process whereby liquidators are appointed to deal with a Company’s affairs.
The liquidators will realise any assets the Company has and then distribute these funds to the creditors in accordance with statutory priority.
Do I need to do anything?
If you wish to lodge a claim in the liquidation, you should complete and return the Proof of Debt form.
You are considered to be an unsecured creditor within the Liquidation. This means that you will rank alongside everybody else that is owed money by the Company – eg HMRC, landlords, suppliers and other customers. There are no secured or preferential creditors to our knowledge.
Where is my money?
We understand that the company acted as managing agent for investors and leaseholders with interests in the following 9 properties:
Kentish House, 2020 House, Behn Hall, Falkland House, Grove House, the Paramount Building, Tallis Court, Trinity Hall & Waterside.
We further understand that that the company’s sub-contractor, Urban Student Living (USL) is holding rent that may well be due to investors in these properties of £2m dating back to January 2017. This has not been confirmed with USL.
When will I get my money?
Given that there is some uncertainty over the exact amount and terms under which these funds are held, we can offer no fixed time for this.
Given the insolvency of the company, there is no guarantee that all that is owed to creditors can be paid.
Our intention is to work with USL to ensure that creditors’ interests are fully represented and that returns to them are maximised.
Should you have any queries which are not set out above please contact us on 02382 357959 or at firstname.lastname@example.org
Please be aware that given the large number of creditors, we are receiving a high volume of queries which we are dealing with as quickly as possible.